As expected, Alleghany (Y) confirms it will buy reinsurer Transatlantic (TRH +4.7%) for $3.4B in...

|About: Alleghany Corporation (Y)|By:, SA News Editor

As expected, Alleghany (Y) confirms it will buy reinsurer Transatlantic (TRH +4.7%) for $3.4B in cash and stock, or $59.79/share. That's a 10% premium on TRH's Friday close. The deal theoretically ends a long process involving a series of suitors for TRH, although it's already called off an M&A with Allied World. (previous) (PR)