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IPC spurns improved bid by Bermuda rival Validus.

Publication: Business Insurance
Publication Date: 25-MAY-09
Format: Online
Delivery: Immediate Online Access
Full Article Title: IPC spurns improved bid by Bermuda rival Validus.(IPC Holdings Ltd.)

Article Excerpt
Byline: COLLEEN McCARTHY

IPC Holdings Ltd. last week rejected a revised takeover offer by Validus Holdings Ltd., marking the second time IPC has rebuffed Validus in favor of its planned merger with Max Capital Group Ltd.

Validus raised its unsolicited offer to $1.69 billion for IPC and added a cash component to the deal in an attempt to entice IPC shareholders...

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