U.S. property and casualty insurer Alleghany Corp snapped up Transatlantic Holdings for $3.4 billion in cash and stock, a move that may help the Bermuda-based reinsurer ward off a hostile bid from rival Validus Holdings Ltd. Transatlantic, once controlled by American International Group Inc, had called off a merger with one partner and claimed another bid was too low during the last five months.Following are some of the key milestones in the battle:June 12 - Allied World Assurance Co Holdings agrees to purchase Transatlantic for $3.2 billion in stock.
American International Group, Inc. (AIG) is an international insurance organization, serving customers in more than 130 countries. Shares of AIG remained unchanged at $21.88. In the past year, the shares have traded as low as $20.28 and as high as $62.87. On average, 7765350 shares of AIG exchange hands on a given day and today's volume is recorded at 618.
Transatlantic Holdings, Inc. (TRH) is a holding company. Shares of TRH remained unchanged at $54.43. In the past year, the shares have traded as low as $43.85 and as high as $54.08. On average, 1087640 shares of TRH exchange hands on a given day and today's volume is recorded at 199170.
Validus Holdings, Ltd. provides reinsurance and insurance coverage in the property, marine and specialty lines markets, and insurance coverage. Shares of VR remained unchanged at $28.65. In the past year, the shares have traded as low as $23.24 and as high as $34.95. On average, 1201970 shares of VR exchange hands on a given day and today's volume is recorded at 300.
Alleghany Corporation is engaged, through Alleghany Insurance Holdings LLC (AIHL) and its subsidiaries RSUI Group, Inc. Shares of Y remained unchanged at $314.26. In the past year, the shares have traded as low as $278.74 and as high as $342.71. On average, 16470 shares of Y exchange hands on a given day and today's volume is recorded at 0.
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