Transatlantic Fights Validus' $3.2B Hostile Offer

Law360, New York (July 28, 2011, 1:21 PM EDT) -- Reinsurance company Transatlantic Holdings Inc. on Thursday urged shareholders to reject Validus Holdings Ltd.’s $3.2 billion buyout offer and took steps to thwart a hostile takeover, including suing Validus in Delaware for allegedly misleading stockholders.

Transatlantic championed the stock-for-stock merger it has already entered with Allied World Assurance Co. Holdings AG and accused Validus of distributing false information to shareholders in its effort to engineer a hostile takeover of the reinsurance company. Transatlantic also adopted a poison-pill program to prevent Validus from wresting control of the...
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