- GOP hopes taking shutdown off the table with budget deal will pay dividends
- Chinese Death Star: The moon cited as the perfect launch pad for ballistic missiles
- Help wanted: Homeland Security plagued by vacancies at the top
- We are not amused: Queen’s protection officers warned to keep ‘sticky fingers’ off the royal cashews
- Unleash the crossbows: Gov. Scott Walker creates new hunting season
- Bubonic plague kills 20 in Madagascar
- G-20 diplomats fell for hacker attack promising nude photos of former French first lady Carla Bruni
- Minnesota guardsman charged with stealing private soldier data for fake IDs
- Florida appeals court rules universities can’t regulate guns
- Vladimir Putin defends Russian conservative values
Buffett division bids for Transatlantic insurer
NEW YORK — A unit of Warren Buffett’s Berkshire Hathaway Inc. has bid $3.25 billion for insurer Transatlantic Holdings.
Berkshire’s National Indemnity Co. is offering $52 per share in cash for Transatlantic. That tops the price the company would get in its agreement to be bought by Allied World Assurance Co.
In a letter released by Transatlantic on Sunday, National Indemnity said its offer isn’t subject to due diligence or financing conditions. The company said it wants a formal response from Transatlantic no later than the close of business Monday. If the offer is accepted, National Indemnity would want a $75 million break-up fee if the transaction did not close by the end of the year.
Transatlantic’s board said it would carefully weigh the offer by National Indemnity and asked its shareholders to wait until it has a chance to judge it before taking action. But the company also reaffirmed its recommendation of the deal with Allied World Assurance, which is based in Switzerland.
European Central Bank to buy government bonds
FRANKFURT, Germany — The European Central Bank says it will “actively implement” a bond-purchase program that could boost Spanish and Italian bonds and drive down interest yields that threaten those countries’ budgets.
That could help Rome and Madrid fend off market trouble until a strengthened eurozone bailout fund is approved to help them.
The bank did not say Sunday which countries’ bonds it would buy in a statement after a crisis conference call Sunday. But the beneficiaries are expected to be Italy and Spain, market analysts say.
Italy and Spain are trying to avoid financial collapses like those that have forced Greece, Ireland and Portugal to seek bailout loans.
Feds: Probe into WaMu ends with no charges
NEW YORK — The Justice Department says it has closed its investigation into the collapse of Washington Mutual without any criminal charges filed.
© Copyright 2013 The Washington Times, LLC. Click here for reprint permission.
By Mangosuthu Buthelezi
Memories of a long brotherhood tempered in common struggle
- NAPOLITANO: A conspiracy so vast
- Obama's Afghanistan experts stumped on U.S. death toll, war costs during hearing
- House votes for bargain to end budget drama
- Comma on!: Twitter erupts over Obama-Castro 'marriage'
- Spike in battlefield deaths linked to restrictive rules of engagement
- Jane Fonda Foundation fails to make single contribution in 5 years: report
- Atheists smug as Hindus join Satanists to demand display at Oklahoma Statehouse
- U.S. debt jumps a record $328 billion tops $17 trillion for first time
- Biden guarantees victory on immigration reform
- U.S. pilot scares off Iranians with 'Top Gun'-worthy stunt: 'You really ought to go home'
Independent voices from the The Washington Times Communities
Consummate traveler Todd DeFeo explores the unique stories that make destinations worth going to.
Covering the world of soccer, including the World Cup, Major League Soccer, D.C. United and the English Premier League and other interesting sporting events.
Born in 1930 in rural Missouri, Charles Vandegriffe, Sr., brings his time and place to the Communities.
Columns from Voices around the World talking about the events, people, politics and social issues that concern us wherever, and whoever, we are.
Extraordinary day at Redskins Park
White House pets gone wild!
Let it snow