A unit of Warren Buffett's Berkshire Hathaway Inc (BRKa.N) made a $3.24 billion takeover offer for Transatlantic Holdings Inc (TRH.N), topping two existing rival offers for the reinsurer. Transatlantic's board said on Sunday it would "carefully consider and evaluate" the $52-per-share offer by Berkshire unit National Indemnity Co. Berkshire has given the reinsurer time until the close of business on Monday, Aug. 8, to make a formal response to the offer. Transatlantic has an agreement to be bought by Allied World Assurance Company Holdings Ltd (AWH.N) in a deal currently worth $44.22 per share, or $2.75 billion.
Transatlantic Holdings, Inc. (TRH) is a holding company. Shares of TRH fell by 3.58% or $-1.68/share to $45.24. In the past year, the shares have traded as low as $43.85 and as high as $54.08. On average, 790552 shares of TRH exchange hands on a given day and today's volume is recorded at 1227904.
Allied World Assurance Company Holdings, AG, formerly Allied World Assurance Company Holdings, Ltd. Shares of AWH fell by 2.94% or $-1.52/share to $50.25. In the past year, the shares have traded as low as $48.21 and as high as $65.70. On average, 355811 shares of AWH exchange hands on a given day and today's volume is recorded at 499225.
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