Reinsurer Transatlantic Holdings Inc (TRH.N) said it received a renewed takeover offer of $52 a share in cash from Warren Buffett's Berkshire Hathaway Inc (BRKa.N) but said the bid was too low. Transatlantic and Allied World Assurance Co Holdings Ltd (AWH.N) called off their planned merger last Friday in the face of overwhelming opposition. After that announcement, Berkshire reinsurance chief Ajit Jain sent Transatlantic a letter reiterating the offer his National Indemnity unit made in early August. The renewed offer, worth $3.25 billion, expires at the close of business Monday, and there appeared to be little chance Transatlantic would accept it. Berkshire said it would not renew its offer if it was not accepted by the deadline.
Transatlantic Holdings, Inc. (TRH) is a holding company. Shares of TRH fell by 1.85% or $-0.9/share to $47.87. In the past year, the shares have traded as low as $43.85 and as high as $54.08. On average, 954171 shares of TRH exchange hands on a given day and today's volume is recorded at 286097.
Allied World Assurance Company Holdings, AG, formerly Allied World Assurance Company Holdings, Ltd. Shares of AWH fell by 1.98% or $-1.08/share to $53.53. In the past year, the shares have traded as low as $49.00 and as high as $65.70. On average, 386155 shares of AWH exchange hands on a given day and today's volume is recorded at 2656.
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