NEW YORK ( TheStreet) -- Reinsurer Transatlantic Holdings (TRH) announced Sunday it has received a $3.25 billion buyout offer from National Indemnity Company, a unit of Warren Buffett's Berkshire Hathaway (BRK.A).
In a news release, Transatlantic says National Indemnity is offering $52 for each of its outstanding shares, a 15% premium to Transatlantic's Friday closing price of $45.24.
In June, Transatlantic agreed to merge with Allied World Assurance Company (AWH - Get Report). Under the terms of that deal, Transatlantic shareholders would receive 0.88 Allied World shares for each Transatlantic share. Based on Allied World's Friday closing share price of $50.25, that deal values Transatlantic at $44.22 a share, or $2.76 billion.