Validus Holdings (VR -1.3%) takes its $3.5B tender offer to acquire Transatlantic Holdings (TRH -0.8%) directly to shareholders after its board insists Validus agree to a standstill agreement. Earlier this month, Validus proposed the takeover in an attempt to scuttle a prior $3.2B merger agreement between the reinsurer and Allied World Assurance (AWH +0.2%).
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