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TransAtlantic Sets Holder Meeting To Vote On Allied World Deal

DOW JONES NEWSWIRES TransAtlantic Holdings Inc. (TRH) said Friday it will hold a special meeting of stockholders Sept. 20 to vote on a proposed merger with Allied World Assurance Co. (AWH). The announcement comes as Berkshire Hathaway Inc. (BRKA, BRKB) is said to be negotiating still with Transatlantic on its rival offer to acquire the reinsurer. Validus Holdings Ltd. (VR) has also attempted to thwart the Allied World bid with its own hostile offer. Terms of the Allied World deal dictate that TransAtlantic must hold the vote and that the board support Allied World's offer unless it gets a "superior proposal." The Allied World agreement is an all-stock deal that would exchange 0.88 Allied World share--worth about $44.84 based on Friday's closing price--for each TransAtlantic share. Earlier this month, Berkshire formally offered to buy Transatlantic for $52 a share. The Validus offer would give 1.56 Validus shares and $8 in cash--together amounting to about $47.89 based on Friday's closing price--for each Transatlantic share. -By Joan E. Solsman, Dow Jones Newswires; 212-416-2291; joan.solsman@dowjones.com

Stock News for Transatlantic (TRH)
DateTimeHeadline
12/19/201111:18:43Applications Given Early Antitrust Clearance
09/27/201123:02:19New Transatlantic Suitors Include Former Treasury Official: Sources...
08/19/201118:57:09TransAtlantic Sets Holder Meeting To Vote On Allied World Deal
08/16/201110:49:19Despite Buffett Claim, Berkshire Is In Takeover Talks -Source
08/12/201118:57:12WSJ: Berkshire Enters Talks To Buy Transatlantic
08/12/201118:23:25Berkshire Enters Confidential Talks With Transatlantic
08/11/201113:52:13Transatlantic Executives Feared For Jobs At Validus Approach:...
08/01/201109:49:10Validus CEO: Transatlantic Board 'Case Study In Poor Governance'
07/13/201115:43:13For Reinsurers, Size Matters In Fight To Acquire Transatlantic
06/13/201113:46:20Merger Monday Returns With Busiest Deal Day In A Month
05/25/201116:58:36Insurers' 1Q Underwriting Results Worst In A Decade, SNL Says
03/11/201117:12:14Japan Disaster Shows Coverage Gaps, But Quake Still Costly For...
06/03/201008:02:23AT A GLANCE: BP Gulf of Mexico Oil Spill Hits Insurers
03/15/201019:25:09AIG Gets $452 Million Via Sale Of Transatlantic Shares
03/05/201010:01:32AIG Plans To Sell Remaining 14% Stake In Transatlantic
03/03/201018:17:12Natural-Gas Distributor Oneok To Join S&P 500
01/08/201010:23:02Reinsurance Price Declines Won't Offset Other Insurance Woes

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