Arch launches share offering

Bermudian carrier Arch has announced a public share offering of
18 million shares valued at around $450mn.
The company said the net proceeds of the offering would be used
to fund a portion of the cash consideration for its acquisition of
US mortgage insurer United Guaranty Corporation (UGC) from AIG.
However, it added that the closing of the offering was not
contingent on the completion of the UGC purchase.
Each of the shares represents a 1/1,000th interest in a 5.25...