UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE TO

Tender Offer Statement Under Section 14(d)(1)
or Section 13(e)(1) of the Securities Exchange Act of 1934

 

IPC HOLDINGS, LTD.

(Name of Subject Company (Issuer))

VALIDUS HOLDINGS, LTD.

(Name of Filing Persons (Offeror))

COMMON SHARES, PAR VALUE $0.01 PER SHARE
(Title of Class of Securities)

G4933P101
(CUSIP Number of Class of Securities)

(Name, address and telephone number of person authorized to receive notices and communications on behalf of filing persons)

With Copies to:

W. Leslie Duffy, Esq.		Stephen F. Arcano, Esq.
John Schuster, Esq.		Todd E. Freed, Esq.
Cahill Gordon & Reindel llp		Skadden, Arps, Slate, Meagher & Flom LLP
80 Pine Street		Four Times Square
New York, New York 10005		New York, New York 10036
(212) 701-3000		Telephone: (212) 735-3000

CALCULATION OF FILING FEE

	Transaction Valuation*:			$1,482,329,499.84			Amount of Filing Fee**:			82,713.99

þ

Check the box if any part of the fee is offset as provided by Rule 0-11(a)(2) and identify the filing with which the offsetting fee was previously paid. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.

Amount previously paid		$84,262.55		Form or registration no.:		Schedule 14A
Filing Party:		Validus Holdings, Ltd.		Date Filed:		April 16, 2009

o

Check the box if the filing relates solely to preliminary communications made before the commencement of a tender offer.

Check the appropriate boxes below to designate any transactions to which the statement relates:

	þ		third-party tender offer subject to Rule 14d-1.
	o		issuer tender offer subject to Rule 13e-4.
	o		going-private transaction subject to Rule 13e-3.
	o		amendment to Schedule 13D under Rule 13d-2.

Check the following box if the filing is a final amendment reporting the results of the tender offer: o

 

 

          This Amendment No. 7 (this “Amendment”) to Schedule TO amends and supplements the Tender Offer Statement on Schedule TO originally filed with the Securities and Exchange Commission on May 12, 2009, as amended by Amendment No. 1 thereto filed on May 14, 2009, Amendment No. 2 thereto filed on May 14, 2009, Amendment No. 3 thereto filed on May 18, 2009, Amendment No. 4 thereto filed on May 18, 2009, Amendment No. 5 thereto filed on May 20, 2009 and Amendment No. 6 thereto filed on May 20, 2009 (the “Schedule TO”) by Validus Holdings, Ltd., a Bermuda exempted company (“Validus”), in connection with the third-party tender offer by Validus to exchange all the issued and outstanding common shares, par value $0.01 per share (the “Shares”) of IPC Holdings, Ltd., a Bermuda exempted company (the “Company”) for (x) 1.1234 Validus voting common shares, par value $0.175 per share and (y) $3.00 in cash per Share (the “Offer”).

          Validus has filed Amendment No. 2 to its Registration Statement on Form S-4 (File No. 333-159148) relating to the Offer (as amended, the “Registration Statement”). The terms and conditions of the Offer are set forth in the Offer to Exchange/Prospectus and the related Letter of Transmittal which are filed as exhibits to the Registration Statement.

ITEMS 1 THROUGH 11.

          Items 1 through 11 of this Schedule TO are hereby amended and supplemented as set forth in the Offer to Exchange/Prospectus, which is filed as Exhibit (a)(4) hereto.

ITEM 12. EXHIBITS.

          Item 12 of the Schedule TO is amended and supplemented by adding the following:

(a)(1)(E)		Form of Revised Letter of Transmittal (incorporated by reference to Exhibit 99.5 to Amendment No. 2 to the Validus Registration Statement on Form S-4 filed on May 21, 2009)
(a)(1)(F)		Form of Revised Notice of Guaranteed Delivery (incorporated by reference to Exhibit 99.6 to Amendment No. 2 to the Validus Registration Statement on Form S-4 filed on May 21, 2009)
(a)(1)(G)		Form of Revised Letter to Brokers, Dealers, Banks, Trust Companies and Other Nominees (incorporated by reference to Exhibit 99.7 to Amendment No. 2 to the Validus Registration Statement on Form S-4 filed on May 21, 2009)
(a)(1)(H)		Form of Revised Letter to Clients for Use by Brokers, Dealers, Banks, Trust Companies and Other Nominees (incorporated by reference to Exhibit 99.8 to Amendment No. 2 to the Validus Registration Statement on Form S-4 filed on May 21, 2009)
(a)(4)		Offer to Exchange/Prospectus (incorporated by reference to Amendment No. 2 to the Validus Registration Statement on Form S-4 filed on May 21, 2009)

SIGNATURE

     After due inquiry and to the best of my knowledge and belief, I certify that the information set forth in this Amendment to the Schedule TO is true, complete and correct.

Date: May 21, 2009

EXHIBIT INDEX

(a)(1)(A)		Form of Letter of Transmittal (incorporated by reference to Amendment No. 1 to the Validus Registration Statement on Form S-4 filed on May 14, 2009)
(a)(1)(B)		Form of Notice of Guaranteed Delivery (incorporated by reference to Amendment No. 1 to the Validus Registration Statement on Form S-4 filed on May 14, 2009)
(a)(1)(C)		Form of Letter to Brokers, Dealers, Banks, Trust Companies and Other Nominees (incorporated by reference to Amendment No. 1 to the Validus Registration Statement on Form S-4 filed on May 14, 2009)
(a)(1)(D)		Form of Letter to Clients for Use by Brokers, Dealers, Banks, Trust Companies and Other Nominees (incorporated by reference to Amendment No. 1 to the Validus Registration Statement on Form S-4 filed on May 14, 2009)
(a)(1)(E)		Form of Revised Letter of Transmittal (incorporated by reference to Exhibit 99.5 to Amendment No. 2 to the Validus Registration Statement on Form S-4 filed on May 21, 2009)
(a)(1)(F)		Form of Revised Notice of Guaranteed Delivery (incorporated by reference to Exhibit 99.6 to Amendment No. 2 to the Validus Registration Statement on Form S-4 filed on May 21, 2009)
(a)(1)(G)		Form of Revised Letter to Brokers, Dealers, Banks, Trust Companies and Other Nominees (incorporated by reference to Exhibit 99.7 to Amendment No. 2 to the Validus Registration Statement on Form S-4 filed on May 21, 2009)
(a)(1)(H)		Form of Revised Letter to Clients for Use by Brokers, Dealers, Banks, Trust Companies and Other Nominees (incorporated by reference to Exhibit 99.8 to Amendment No. 2 to the Validus Registration Statement on Form S-4 filed on May 21, 2009)
(a)(2)		Not Applicable
(a)(3)		Not Applicable
(a)(4)		Prospectus/Offer to Exchange (incorporated by reference to Amendment No. 2 to the Validus Registration Statement on Form S-4 filed on May 21, 2009)
(a)(5)(A)		Form of Summary Advertisement *
(a)(5)(B)		Press Release, dated May 14, 2009, entitled “Validus Comments on Bermuda Court Proceedings” (incorporated by reference to Exhibit 99.1 to Validus’ Current Report on Form 8-K filed on May 14, 2009)
(a)(5)(C)		Press Release, dated May 14, 2009, entitled “Validus Submits Application to Bermuda Court for Scheme of Arrangement” (incorporated by reference to Exhibit 99.2 to Validus’ Current Report on Form 8-K filed on May 14, 2009)
(a)(5)(D)		Offer Letter by Validus Holdings, Ltd. dated as of May 18, 2009 (incorporated by reference to Exhibit 99.1 to Validus’ Current Report on Form 8-K filed on May 18, 2009)
(a)(5)(E)		Press Release, dated May 18, 2009, entitled “Validus Increases Offer for IPC Holdings” (incorporated by reference to Exhibit 99.3 to Validus’ Current Report on Form 8-K filed on May 18, 2009)
(a)(5)(F)		Investor Presentation dated May 2009 (incorporated by reference to Exhibit 99.1 to Validus’ Current Report on Form 8-K filed on May 18, 2009)
(a)(5)(G)		Validus Letter to IPC Shareholders, dated May 19, 2009 (incorporated by reference to Validus’ Rule 425 filing on May 20, 2009)
(a)(5)(H)		Investor Presentation dated May 2009 (incorporated by reference to Exhibit 99.1 to Validus’ Current Report on Form 8-K filed on May 20, 2009)
(b)		Not Applicable
(d)		Not Applicable
(g)		Not Applicable
(h)		Not Applicable