RenRe to acquire Platinum for $1.9bn

RenaissanceRe has struck a cash-and-stock deal to acquire peer
Platinum for $1.9bn, the Bermudian cat specialist has said.
The deal represents 1.11x Platinum's trailing book value per
share and a 24 percent premium to the closing share price on Friday
21 November.
RenRe will pay $1.16bn in cash and 7.5 million common shares
worth approximately $761mn. It will fund the cash element via
available funds and the issuance of new senior debt.
On the closure of the deal Platinum shareholders...