NU Online News Service, June 9, 11:08 a.m. EDT

With IPC Holdings shareholders preparing to vote Friday on a merger with Max Capital, rival bidder Validus Holdings yesterday increased its offer again.

Validus added 75 cents per share in cash to its prior bid giving the new deal a value of over $1.7 billion and provoking Max Capital, the original suitor to warn IPC investors they should ignore the empty "promises" in the Validus deal.

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