May 20, 2015, 12:58 PM
- Alleghany (Y +2.5%) pops on a report that the company is considering a sale of its Transatlantic Holdings reinsurance unit in a deal that could value TransRe at ~$6.5B.
- Alleghany reportedly is working with investment bankers to respond to takeover interest in TransRe from at least one other company, although it has not decided whether to actually sell the business.
- TransRe was acquired by Alleghany in 2012 for $3.5B.
Feb. 3, 2015, 1:46 PM
- Alleghany (Y +0.6%) and Europe's Scor are mulling the idea of "jumping" the Axis Capital (AXS -0.8%)/PartnerRe (PRE +3.5%) merger, reports The Insurance Insider.
- The two think they may be able to put together a deal compelling enough for PartnerRe to walk away from the transaction.
- Previously: Citi not impressed with today's reinsurance M&A deal (Jan. 26)
Nov. 21, 2011, 8:12 AM
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)| Nov. 21, 2011, 8:12 AM