Hashtag: #ValidusHoldingsLtd
Transatlantic Considering New Validus Offer
Reinsurer Transatlantic Holdings says it is looking at the increased takeover offer from Bermuda’s Validus Holdings , but advised shareholders to sit tight for now, adding it was in talks with other parties. New York-based Transatlantic, currently valued at around $3.3 billion, is proving to be a sought-after asset as it’s relatively cheap... Read more of this article
Validus’ Latest Transatlantic Offer Rejected
Bermuda’s Validus Holdings has increased its bid for Transatlantic Holdings Inc., though the reinsurance company has again turned down its offer in the latest step in a long-running takeover battle. The new bid, worth up to about $3.51 billion in cash and stock, values New York-based Transatlantic at about $55.35 a share, a six premium over yesterday’s... Read more of this article
Validus Extends Its Transatlantic Offer
Bermuda’s Validus Holdings Ltd. said today [Nov. 1] it has extended its offer for Transatlantic Holdings Inc. The offer was set to expire at 5 p.m. October 31. The extension lasts until November 25. After ending its merger agreement with Allied World Assurance, New York-based Transatlantic announced it had entered into a confidentiality agreement... Read more of this article
The 9/11 Attacks & Bermuda’s Class Of ’01
The tenth anniversary of the September 11 terror attacks on the US last month provided time for reflection on how the world has changed for good and ill since then, the “Financial Times” reported this week — saying both Bermuda and the global insurance industry were altered beyond recognition by those events. Osama bin-Laden’s... Read more of this article
Validus “To Increase Transatlantic Offer”
Bermuda’s Validus may submit an increased acquisition offer for Transatlantic Holdings as soon as this weekend, industry journal “Insurance Insider’ is reporting, citing sources. Transatlantic announced on October 11 that it has entered into a confidentiality agreement and commenced discussions with an additional party regarding potential... Read more of this article
Validus Posts “Strong Financial Results”
Bermuda reinsurer Validus Holdings, Ltd. has reported net income available to Validus of $56.5 million, or $0.54 per diluted common share for the three months ended September 30, 2011, compared to $238.5 million, or $2.08 per diluted common share, for the three months ended September 30, 2010. Net (loss) attributable to Validus for the nine months ended... Read more of this article
Mixed Views On “Bermuda” Tax Bill
Proposed legislation denying tax deductions for US reinsurance premiums paid to offshore affiliates will likely pass through Congress, a Bermuda executive predicted last year — but he criticized the measure as a restriction of free trade. Speaking at the 2010 Standard & Poor’s Insurance Conference, Edward Noonan, chair and chief executive... Read more of this article
Transatlantic’s New Suitor
Bermuda-based re/insurer Transatlantic Holdings Inc., which has been at the centre of a months-long buyout battle, told the Reuter news agency today [Oct.11] it has entered talks and signed a confidentiality agreement with a fourth, unnamed, suitor. Transatlantic is already in discussions with Bermuda-based Validus Holdings Ltd, Berkshire Hathaway unit... Read more of this article
Validus Signs Confidentiality Agreement
Bermuda-based Validus Holdings, Ltd. has entered into a confidentiality agreement with Transatlantic Holdings, Inc. Under the confidentiality agreement, Transatlantic and Validus will exchange non-public information. A statement released said, “Pursuant to the confidentiality agreement, Validus has agreed, during a period that expires at 11:59... Read more of this article
National Indemnity Bids For Transatlantic
A unit of Warren Buffett’s Berkshire Hathaway Inc. entered into the bidding war over Transatlantic Holdings Inc, offering to buy the reinsurer for $3.24 billion. Transatlantic has an agreement to be bought by Allied World, and Validus is also bidding for the company. Transatlantic confirmed they received a proposal from National Indemnity Company... Read more of this article
Transatlantic Rejects Offer, Sues Validus
[Updated] Transatlantic Holdings Inc. sued Bermuda based reinsurer Validus Holdings Ltd. in federal court in Delaware, contending the company is trying to mislead Transatlantic stockholders into tendering their shares in violation of securities law. The New York Times reports that “Transatlantic Holdings rejected a $3.2 billion hostile bid by... Read more of this article
Validus Responds To Transatlantic Holdings
Bermuda based Validus Holdings, Ltd. today [July 20] responded to yesterday’s announcement by the Board of Directors of Transatlantic Holdings, Inc. A Validus spokesperson said, “Validus has delivered to the Board of Directors of Transatlantic a Superior Proposal that provides a 27.1% premium to the June 10, 2011 Transatlantic unaffected... Read more of this article
