NEW YORK, Feb. 6, 2012 /PRNewswire/ -- Alleghany Corporation (NYSE: Y) ("Alleghany") today announced that its stockholders overwhelmingly voted to approve the previously announced merger of Transatlantic Holdings, Inc. (NYSE: TRH) ("Transatlantic"), into Shoreline Merger Sub, Inc., a wholly-owned subsidiary of Alleghany (formerly Shoreline Merger Sub, LLC), pursuant to the merger agreement, dated as of November 20, 2011, between Alleghany and Transatlantic. In addition, Transatlantic's stockholders have voted to approve and adopt the merger agreement. At the special meeting of Alleghany stockholders held today, approximately 7.3 million of Alleghany's 8.6 million shares of common stock outstanding as of the January 4, 2012 record date were voted, with approximately 99.75% of the votes cast in favor of the proposal to issue shares of Alleghany common stock to Transatlantic stockholders in connection with the merger. The transaction, which is subject to regulatory approvals and customary closing conditions, is expected to close in the first quarter of 2012. UBS Investment Bank and Morgan Stanley are serving as financial advisors and Wachtell, Lipton, Rosen & Katz as legal advisor to Alleghany. About Alleghany Alleghany creates stockholder value through the ownership and management of operating subsidiaries and investments, anchored by a core position in property and casualty insurance. Alleghany's current operating subsidiaries include: RSUI Group, Inc., a national underwriter of property and liability specialty insurance coverages; Capitol Transamerica Corporation, an underwriter of property and casualty insurance coverages with a focus on the Midwest and Plains states and a national underwriter of specialty property and casualty and surety insurance coverages; Pacific Compensation Corporation, an underwriter of workers' compensation insurance primarily in California; and Alleghany Properties LLC, a significant landowner in Sacramento, California. Cautionary Note Regarding Forward-Looking Statements
Transatlantic Holdings (NYSE:TRH) hit a new 52-week high Monday as it is currently trading at $61.22, above its previous 52-week high of $61.20 with 25,918 shares traded as of 10 a.m. ET. Average volume has been 659,400 shares over the past 30 days.
Transatlantic Holdings (NYSE:TRH) hit a new 52-week high Friday as it is currently trading at $58.94, above its previous 52-week high of $58.61 with 107,239 shares traded as of 12:39 p.m. ET. Average volume has been 659,400 shares over the past 30 days.
Transatlantic Holdings (NYSE:TRH) hit a new 52-week high Thursday as it is currently trading at $58.26, above its previous 52-week high of $58.25 with 99,548 shares traded as of 12:05 p.m. ET. Average volume has been 659,400 shares over the past 30 days.