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Another bidder in the running for Transatlantic

Another bidder is in the running to acquire US reinsurer Transatlantic Holdings.

The company announced yesterday that it had reached a confidentiality agreement and was in discussions with a third party.

This is in addition to Bermuda-based reinsurer Validus Holdings, which tabled a bid of $47.71 per share for Transatlantic last month.

The news is the latest twist in a saga which has already seen a proposed merger with Allied Assurance Company fall through and a $3.25 billion bid from Warren Buffett’s Berkshire Hathaway rejected.

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Published September 27, 2011 at 2:00 am (Updated September 27, 2011 at 10:11 am)

Another bidder in the running for Transatlantic

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