Allied World Assurance Company Holdings, AGNYSE
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  • Apr. 16, 2014, 2:57 PM
    • "Looking over the landscape, we do not see too many competitors that would be willing to pay a similar premium to book value," says Janney's Ryan Byrnes, commenting on Endurance Specialty Holdings' (ENH -0.3%) hostile offer of 1.16x book value for Aspen Insurance Holdings (AHL +2.9%).
    • "The chance of another acquirer coming into the picture is uncertain," says Sterne Agee. "While we have seen competing offers in past insurance transactions over the last several years, the deal multiples in those instances were close to/below book value.”
    • Barclays isn't so sure, saying other suitors looking to increase their scale could emerge. Possible candidates: Allied World Insurance (AWH +0.7%) and Validus Holdings (VR +0.2%) - both were involved in 2011/2012's bidding war for Transatlantic, in which Alleghany ended up buying the company in a $3.4B deal.
    | Apr. 16, 2014, 2:57 PM | 1 Comment
  • Nov. 21, 2011, 4:50 AM

    Transatlantic (TRH) is in talks with yet another suitor, Alleghany (Y), and the firms may even announce their engagement today, reports say. Alleghany will pay about $59-60 a share, a premium of up to 10% on Transatlantic's close on Friday. The price values Transtlantic at $3.4B, above Alleghany's market cap of $2.7B. (previous)

    | Nov. 21, 2011, 4:50 AM
  • Sep. 23, 2011, 5:25 PM

    Validus (VR) wins a skirmish with hostile takeover target Transatlantic (TRH) that will allow the companies to exchange non-public information. The "limited standstill" agreement, which expires Oct. 31, comes after a competing deal with Allied World Assurance (AWH) was called off.

    | Sep. 23, 2011, 5:25 PM
  • Sep. 20, 2011, 3:00 AM
    Transatlantic (TRH) is reportedly exploring a "limited standstill" agreement with Validus (VR), after rejecting a reinstated offer from National Indemnity (BRK.A) and calling off a planned merger with Allied World Assurance (AWH).
    | Sep. 20, 2011, 3:00 AM
  • Sep. 16, 2011, 7:37 AM

    Transatlantic (TRH) will pay Allied World (AWH) a termination fee of $35M and expenses of $13.3M after their merger hits the skids, as part of the agreement between the firms. Shareholders of Tranatlantic will also see $455M added to an existing shareholder repurchasement plan. Premarket: TRH -1.1%, AWH +0.5%.

    | Sep. 16, 2011, 7:37 AM
  • Sep. 16, 2011, 7:24 AM

    Transatlantic (TRH) and Allied World (AWH) announce they will mutually terminate their previously announced merger agreement.

    | Sep. 16, 2011, 7:24 AM
  • Sep. 12, 2011, 10:33 AM

    Allied World (AWH) touts a recommendation from proxy advisory firm ISS that Allied shareholders support a proposal to merge with Transatlantic (TRH). Yet separately, ISS recommends TRH shareholders oppose the deal, advising they could get more money from either of two other takeover offers from Berkshire Hathaway (BRK.A) or Validus (VR).

    | Sep. 12, 2011, 10:33 AM
  • Aug. 25, 2011, 9:11 AM

    Transatlantic's (TRH) biggest shareholder, Davis Selected Advisors, says it opposes the insurer’s proposed $2.9B merger with Allied World Assurance (AWH), a major blow to Transatlantic as it tries to fend off an unsolicited $3B takeover bid by Validus (VR). One wild card remains in the mix: TRH is in discussions about a potential takeover by a unit of Berkshire Hathaway (BRK.A).

    | Aug. 25, 2011, 9:11 AM
  • Aug. 16, 2011, 11:57 AM
    Berkshire Hathaway (BRK.A -0.6%) is continuing to negotiate a potential $3.25B purchase of reinsurer Transatlantic (TRH -0.3%), despite Warren Buffett's claim that the deal was off the table, WSJ reports. Transatlantic shareholders would first need to vote to reject an earlier $2.9B offer from Allied World (AWH -1.2%) if they want to accept the Berkshire bid.
    | Aug. 16, 2011, 11:57 AM
  • Aug. 14, 2011, 4:07 AM

    Transatlantic (TRH) has entered into talks with National Indemnity (BRK.A), which has bid $3.25B for the reinsurer. Transatlantic rejected the offer but believes talks will lead to a superior offer. The company already has an agreed deal with Allied World (AWH) and has received a proposal from Validus (VR). (previous)

    | Aug. 14, 2011, 4:07 AM
  • Aug. 12, 2011, 4:05 AM

    Validus (VR) sues Transatlantic (TRH) to force the latter to consider Validus' buyout offer over a deal with Allied World (AWH). Validus argues that Transatlantic is "arbitrarily" refusing to enter into talks even though its bid was worth more than Allied's, although they're now both worth $2.8B. (previous)

    | Aug. 12, 2011, 4:05 AM
  • Aug. 9, 2011, 3:15 AM

    Transatlantic (TRH) rejects a $3.25B bid from Indemnity (BRK.A), saying it's not superior to an agreed bid from Allied World (AWH), which is worth $2.75B. However, Transatlantic will enter negotiations with Indemnity as it believes such talks would lead to a "superior proposal." (PR) (previous)

    | Aug. 9, 2011, 3:15 AM
  • Aug. 8, 2011, 5:09 AM

    Transatlantic (TRH) confirmed early yesterday that it had received an offer of $52/share from Berkshire Hathaway's (BRK.A) National Indemnity Co. Transatlantic, which previously announced a $2.8B merger deal with Allied World (AWH), says it's considering the $3.25B proposal.

    | Aug. 8, 2011, 5:09 AM
  • Jul. 28, 2011, 10:56 AM

    Transatlantic (TRH) urges shareholders to reject an offer by Validus (VR) to buy their stock and adopts a poison-pill provision to cut off Validus' attempt at a hostile takeover. Transatlantic says its previously announced deal with Allied World Assurance (AWH) will "provide greater long-term value potential to Transatlantic stockholders."

    | Jul. 28, 2011, 10:56 AM
  • Jul. 25, 2011, 10:03 AM

    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%).

    | Jul. 25, 2011, 10:03 AM
  • Jul. 13, 2011, 1:41 PM

    Reinsurer Validus Holdings (VR) is down 8.2%, and Transatlantic Holdings (TRH) is up 6%, after Transatlantic announced it will "evaluate" Validus' buyout offer, which seeks to trump an offer from Allied World (AWH). Analysts believe Validus will be taking on "additional risk" by acquiring Transatlantic.

    | Jul. 13, 2011, 1:41 PM