Validus Holdings Down Nearly 10% On Merger Proposal Announcement

Validus Holdings VR is down nearly 10% on a merger proposal announcement from this morning. Under the terms of proposal, Transatlantic stockholders would receive the total consideration of $55.95 per Share, consisting of 1.5564 Validus voting common shares and special pre-closing dividend of $8.00 per share in cash. Validus Holdings is currently trading at $27.87, a loss of 9.54%.