March 3, 2021

Business Briefing | MERGERS: Transatlantic and Allied Cancel Merger Plans

Transatlantic Holdings and Allied World Assurance called off their proposed $2.94 billion merger on Friday after the two insurers faced stiff shareholder opposition and two rival bids for Transatlantic. Transatlantic has been fending off a higher $3.01 billion takeover bid by another reinsurer, Validus Holdings, and had been in talks with a unit of Berkshire Hathaway that had offered $3.25 billion.

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