National Indemnity Renews $3.2B Bid For Transatlantic

Law360, New York (September 19, 2011, 3:24 PM EDT) -- Transatlantic Holdings Inc. said Monday that Berkshire Hathaway Inc. unit National Indemnity Co. had reinstated an offer to buy the reinsurer for $52 cash per share, three days after Transatlantic called off a planned $3 billion merger with Allied World Assurance Co.

Transatlantic said in a statement that National Indemnity sent it a letter Friday renewing its previous bid, valued at about $3.2 billion, to acquire the insurer — a move that came hours after Transatlantic and Allied World agreed to cancel their merger.

On Monday...
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