Arch seals $700m Watford deal with rival bidder Enstar's backing

Re/insurer Arch Capital Group has agreed a revised deal with Watford Holdings to acquire the reinsurer for an increased price of $35 per share, valuing at approximately $700 million, having gained the support of key shareholder and rival bidder Enstar, and additional backing from private equity houses Warburg Pincus and Kelso.