Business & Finance
Business and Finance
Business and Finance
Mon, June 13, 2011 Kendall Law Group Investigates Transatlantic Holdings, Inc.
DALLAS--([ BUSINESS WIRE ])--[ Kendall Law Group ], led by former federal judge Joe Kendall, is investigating Transatlantic Holdings, Inc. (NYSE:TRH) for shareholders in connection with the proposed merger with Allied World Assurance Company Holdings. The national securities firma™s investigation seeks to determine whether Transatlantic and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a TRH shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at [ skendall@kendalllawgroup.com ].
On June 12, 2011, the companies announced the definitive merger agreement under which Allied World and Transatlantic will merge in a transaction valued at approximately $3.2 billion. The transaction is expected to close in the fourth quarter of 2011. Under the terms of the agreement, Transatlantic stockholders will receive 0.88 Allied World common shares for each TRH share held. Based on the closing price of Allied on June 10, this offer values Transatlantic shares at approximately $51.10. This represents approximately 16% premium over the $44.01 closing price or TRH on Friday. However, Transatlantic closed at $50.50 as recently as April 6, 2011. The firma™s investigation seeks to determine whether Transatlantic and its Board undertook a fair process in negotiating the deal.
Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.
