Like a maiden who can't decide on whom to walk down the aisle with, if at all, reinsurer Transatlantic (NYSE:TRH) rejects Validus' (NYSE:VR) latest increased cash-and-stock bid of up to $3.46B. Valdius is not best pleased and will try to replace Transatlantic's board with three independent directors. Reuters has a summary of Transatlantic's dalliances. (PR)