Berkshire in $3.2bn bid for reinsurer
Nick Clark is the arts correspondent of The Independent. He joined the newspaper in June 2007, initially reporting on the stock markets. He has covered beats including the City, and technology, media and telecoms and made the switch to arts in December 2011. He has also contributed articles to the sports section.
Monday 08 August 2011
Berkshire hathaway has waded into the takeover battle for Transatlantic Holdings, tabling a $3.2bn bid for the reinsurer.
The $52-a-share offer from National Indemnity, a subsidiary of Berkshire Hathaway, follows Transatlantic agreeing on an offer from Allied World Assurance in a deal that valued it at $2.7bn.
Transatlantic's board said yesterday it would "carefully consider and evaluate" the new offer.
Separately Validus Holdings had launched a hostile $2.8bn bid for the group.
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