Transatlantic open to talks with Validus
TRANSATLANTIC Holdings said Tuesday that it intended to hold talks with Bermudian re/insurer Validus Holdings to discuss the unsolicited $3.5bn takeover offer that Validus made last week, saying that the proposal “is reasonably likely” to top the $3.2bn merger agreement that the New York-based reinsurer previously reached with Switzerland-based re/insurer Allied World Assurance Co Holdings.