Citi Maintains Buy Rating On Transatlantic Holdings

According to Citi, Transatlantic Holdings TRH Buy rating is maintained. Citi said that NICO, a member of Berkshire Hathaway (BRK.a; not covered by Citi) formally offered $52/shr for all of TRH's outstanding common stock (confirmed by TRH on Sunday). “While details are limited, TRH has until c.o.b Monday, August 8th to formally respond and should the offer be accepted, TRH would be required to pay a $75M termination fee if the deal is not closed by year-end for any reason under TRH's control.” Transatlantic Holdings closed on Friday at $45.24.