IPC Holdings, Ltd. (Nasdaq: IPCR) announced today that its Board of Directors has concluded that the amended amalgamation proposal announced by Validus Holdings, Ltd. (NYSE: VR) on June 8, 2009, which continues to be at a significant discount to IPC's book value and represents a mere $0.12 increase above Validus' previous offer, is not in the best interests of IPC and its shareholders as a whole and does not constitute a superior proposal.
The Board also reaffirmed its recommendation of IPC's proposed amalgamation with Max Capital Group Ltd. (Nasdaq: MXGL). On June 4, 2009, IPC announced that it will pay two special cash dividends that will deliver $2.50 per share in cash to IPC shareholders if the IPC/Max deal closes. The Board urges IPC shareholders to ...
This article: 637 words
Date Published: Jun 9, 2009 04:08PM
Why is this preview so short?
StreetInsider.com provides up-to-the-minute active trading news and information. Only the most relevant news makes it through to our members, and only what you need to hear. Our articles are concise and packed with information, so we are only able to provide you with short previews. Join StreetInsider.com today to see the full version of this article and many more like it.
Join StreetInsider.com Today!
The following plans will be available to you:
- Street Insider Premium 30 days - $29.00 .
- Street Insider Premium 90 days - $80.00 .
- Street Insider Premium 180 days - $150.00 .
- Street Insider Premium 360 days - $250.00 .
- Street Insider Premium 14 days - Free .
Get Access to this story and many, many, more.
You can choose to sign up for a Premium Subscription, Free Basic Subscription, or a Free 2-Week Premium Trial!
With StreetInsider Premium, you will have access to fully-categorized, up-to-the-minute news reports from our team of professionals.
Full Feed: Available in an auto-refresh browser window, with the full articles, or in a streaming headline format, which links to the full article, this section will give you all the articles StreetInsider.com publish with the newest article at the top.
Portfolio/Alerts: Set up e-mail alerts by ticker symbol or by category type. When a new article meets your criteria you will get an e-mail alert.
Corporate News: Corporate news issued in the form of a company press release or an SEC filing, which our staff views as important and potentially market moving.
Rumors: The old Wall Street saying,"buy the rumor, sell the news" is alive and well in the fast paced equity markets. We track them down and report them to our members if they come from a reliable source, having an influence on the market, or make some sense.
Insider Trades: Insider buying and selling moves stocks, but not all transactions are created equal. We give you insight on the transactions that are meaningful.
IPOs: We track IPOs before and after they hit the market, and identify upcoming Hot IPOs.
Insiders' Blog: Special comments, insight and stock ideas from our staff
Hot List: The hottest stories of the day as we see them.
And much more, including:Earnings
Guidance
Upgrades
Downgrades
New Coverage
Analyst Comments
Mergers and Acquisitions
Trader Talk
Equity Offerings
Stock Splits
Stock Buybacks
Dividends
FDA
Momentum Movers
Special Reports
General News
Retail Sales
Management Changes
Economic Data
