Faruqi & Faruqi, LLP Announces Investigation of Transatlantic Holdings, Inc. (TRH)
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Transatlantic Holdings, Inc. (“Transatlantic” or the “Company”) (NYSE: TRH) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Alleghany Corporation (NYSE: Y) in a cash and stock deal valued at about $3.4 billion. Under the terms of the proposed transaction, Transatlantic stockholders will receive aggregate consideration valued at $59.79 as of November 18, 2011, consisting of 0.145 Alleghany common shares and $14.22 in cash for each share of Transatlantic common stock they own.
Whether Transatlantic’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether the proposed transaction undervalues Transatlantic’s shares and by how much this proposed transaction undervalues the Company to the detriment of Transatlantic’s shareholders are the key focus of this investigation.
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Faruqi & Faruqi, LLP
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