And so the M&A merry-go-round begins again...
Arguably this could prove to be a positive acquisition for the Market as a whole, but let's see what comes out in the wash before drawing too many conclusions.
American International Group has announced it has entered into a definitive agreement to acquire all outstanding common shares of Validus Holdings, a provider of reinsurance, primary insurance and asset management services. The transaction enhances AIG’s general insurance business, adding a leading reinsurance platform, an insurance-linked securities asset manager and a presence at Lloyd’s. Holders of Validus common shares will receive cash consideration of $68 per share, for an aggregate transaction value of $5.56bn. AIG CEO and president Brian Duperreault said: “I am confident tha Validus will thrive within AIG and strengthen our ability to deliver profitable growth for our shareholders as we strategically position AIG for the future.”
