Valuation in spotlight as Allied goes for 1.34x book and 18% uplift

Investors will be carefully surveying the scene for a competing
bid for Allied World after the company's board agreed a sale to
Canadian insurance holding company Fairfax Financial at a
relatively low 18 percent premium to the undisturbed share
price.
Allied World CEO Scott Carmilani and the rest of the executive
team have secured their futures with the management-friendly $4.9bn
cash-and-shares deal given Fairfax's preference for a
decentralised model.
Although the valuation represents a peer-c