Nov. 28 (Bloomberg) -- Validus Holdings Ltd., the Bermuda-based reinsurer, said its tender offer for Transatlantic Holdings Inc. failed.
Validus withdrew its offer after 13.4 percent of Transatlantic shares were tendered before the bid’s Nov. 25 expiration, the reinsurer said today in a regulatory filing. The tendered shares were returned to investors and no Transatlantic stock was acquired by Validus, the company said.
To contact the reporter on this story: Andrew Frye in New York at email@example.com
To contact the editor responsible for this story: Dan Kraut at firstname.lastname@example.org