Transatlantic Holdings has agreed to discuss National Indemnity Co.’s offer to acquire all of its common stock for $52 per share.
Transatlantic said that the National Indemnity offer does not now constitute a “superior proposal” but that it is “reasonably likely” that it could lead to one.
The company said that it has a fiduciary duty to discuss the proposal with National Indemnity.
Transatlantic previously entered into a merger agreement with Allied World.
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