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.
Print machine manufactures a working wrench – in color!