Alleghany to buy Transatlantic for $3.4 billion

(Reuters) - U.S. property and casualty insurer Alleghany Corp said on Monday it would buy reinsurer Transatlantic Holdings Inc for $3.4 billion in cash and stock -- though a sharp drop in Alleghany shares meant a separate, hostile bid for Transatlantic was at least temporarily more valuable.

Read More... [Source: Reuters: Business News - Posted by FreeAutoBlogger]