Validus Holdings, Ltd. Announces Final Results
of Modified Dutch Auction Tender Offer
Company purchases 12,000,000 common shares at $25.00 per common share
PEMBROKE, Bermuda, June 14, 2010 (BUSINESS WIRE) — Validus Holdings, Ltd. (“Validus” or the
“Company”) (NYSE: VR) announced today the final results of its “modified Dutch auction” tender offer, which
expired at 5:00 p.m., New York City time, on June 8, 2010.
Validus has accepted for purchase 12,000,000 of its common shares at a price of $25.00 per common share for
a total cost of $300 million, excluding fees and expenses relating to the tender offer. The common shares
purchased pursuant to the tender offer represent approximately 9.5 percent of the common shares outstanding as
of June 7, 2010. Validus has been informed by BNY Mellon Shareowner Services, the depositary for the tender
offer, that the final proration factor for the tender offer is approximately 86.3 percent. Validus funded the
purchase of the shares in the tender offer using cash on hand.
Based on the final count by the depositary (and excluding any conditional tenders that were not accepted due to
the specified condition not being satisfied), 13,896,804 common shares were properly tendered and not
withdrawn at or below a price of $25.00 per share.
The depositary will promptly pay for the common shares accepted for purchase, and will promptly return the
1,896,804 common shares tendered and not purchased, pursuant to the terms of the tender offer. Upon
completion of the tender offer, Validus has approximately 114.7 million common shares outstanding.
As noted in the Company’s Offer to Purchase, the Company may in the future consider various forms of share
repurchases, including open market purchases, tender offers and/or accelerated share repurchases or otherwise.
Under applicable securities laws, the Company may not repurchase any of its common shares until after June 22,
2010. Following completion of the tender offer, Validus has approximately $364