NU Online News Service, May 18, 3:05 p.m. EDT
Continuing in its effort to beat out Max Capital with a rival bid for Bermuda-based IPC Holdings, Validus Holdings has upped its offer to shareholders of the targeted property-catastrophe reinsurer.
Validus announced today that it delivered its increased offer to the board of directors of IPC, offering $3 in cash and 1.1234 Validus voting common shares for each IPC common share.
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