NU Online News Service, June 23, 4:10 p.m. EDT
IPC Holdings, Ltd. said it will reach out to other parties to "solicit interest in a possible transaction" in addition to engaging in discussions with Validus Holdings, Ltd. about its offer, the company said in a statement today.
The board of IPC had arranged for a merger with Max Capital, Ltd., but after Validus made a hostile takeover move with a sweeter bid offer IPC shareholders voted 10 days ago to reject the Max Capital, Ltd., proposal.
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