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AIG Closes Secondary Public Offering In Transatlantic Holdings

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A northeastern-based carrier has closed a public offering of an international reinsurer.

American International Group, Inc. (NYSE: AIG), New York, has underwritten a public offering of 8,466,693 shares of Transatlantic Holdings, Inc. common stock owned by AIG subsidiary American Home Assurance Co, New York.

The public offering was priced at $53.35 per share and yielded gross proceeds of approximately $452 million.

The offering’s underwriters–Goldman, Sachs & Co., New York; Wells Fargo Securities LLC, San Francisco; and Bank of America Corp. unit Merrill Lynch & Co., New York–have a 30-day option (until April 8, 2010) to purchase an additional 725,969 shares, the remaining TRH shares held by AHAC.