The Week in a Minute, July 15, 2011

News

Slow news this week, as summer doldrums set in.

  • Validus made a $3.5B counteroffer to AWAC’s $3.2B bid for Transatlantic Re, AIG’s old reinsurer. Trans would have to pay AWAC $115M to get out of its deal. Transatlantic’s shareholder’s equity at Q1 was $4  billion, according to the latest 10-Q. According to Bloomberg, Transatlantic and AWAC stock rose after the counter, while Validus stock fell.
  • Eqecat warns about a typhoon heading toward Japan. Here’s hoping it steers clear.

Viral

Print machine manufactures a working wrench – in color!

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