Brower Piven Announces an Investigation of the Acquisition of Transatlantic Holdings Inc. by Allied World Assurance Company
June 13, 2011 at 16:53 PM EDT
The law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Transatlantic Holdings, Inc. (“Transatlantic”) (NYSE: TRH) and other violations of state law by the Board of Directors of Transatlantic relating to the proposed acquisition of the company by Allied World Assurance Company (“Allied”) (NYSE: AWH). The firm’s investigation seeks to determine whether Transatlantic’s Board breached their fiduciary duties by, among other things, failing to maximize shareholder value.
On June 12, 2011, Transatlantic and Allied jointly announced that they have entered into a definitive merger agreement for Transatlantic to be acquired by Allied, in a total transaction value of approximately $3.2 billion. Under the terms of the agreement, Transatlantic shareholders will receive 0.88 Allied shares for each of their holdings, or about $51.10 at Friday’s closing price. However, at least one analyst has set a high target price of $60.00 per share of Transatlantic stock. The transaction is expected to close in the fourth quarter of 2011.
If you own Transatlantic common stock and would like to learn more about the investigation being conducted by Brower Piven, you may e-mail or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at email@example.com, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.