IPC shares jump on Validus offer
Shares in Bermudian (re)insurer IPC Holdings jumped 5% on the Nasdaq on Tuesday on news that its rival Validus had offered nearly $2bn for the company.
IPC shares were up $1.46 at $26.87.
Earlier today Validus said that it made IPC an offer of $29.80 per share for IPC, an 18% premium to its share price at the end of Monday.
Validus' share price was off
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