Stockholders approve Alleghany and Transatlantic Holdings merger
Stockholders have voted to approve the merger between Transatlantic Holdings and Alleghany.
Negotiation techniques could be used by Transatlantic Holdings, as it looks set to go ahead with its merger with Alleghany.
It announced that stockholders in both organisations have voted to approve the plans and the firms intend to complete the deal by the end of this calendar quarter.
Transatlantic Holdings is a New York-based international reinsurance company with business on six continents and Alleghany establishes value for its stockholders by managing and owning investments and subsidiaries, with a core position in casualty and property insurance.
Transatlantic board of directors chairman Richard Press expressed the leadership's pleasure with the results of the vote and final decision.
"On behalf of the board and management team, I want to thank our stockholders for their support throughout this process," he declared.
Before the merger occurs, both businesses will issue a press release stating the deadline date for shareholders to deliver their election forms in order to convert their holdings in the company to cash or stock.
Posted by Ron Maverick
Source: Transatlantic Holdings press release, February 6th