Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Retirement Planning > Social Security

AIG Closes Secondary Public Offering In Transatlantic Holdings

Your article was successfully shared with the contacts you provided.

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.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.