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Stock Market & Financial Investment News

News Breaks
April 14, 2014
10:24 EDTVR, ENH, PTP, AHL, MRHAspen Insurance jumps after receiving buyout proposal
Shares of Aspen Insurance (AHL) are rising after a peer in the insurance and reinsurance industry, Endurance Specialty (ENH), offered to buy the company. WHAT'S NEW: Endurance Specialty announced that it had sent a takeover proposal to Aspen, offering to buy the company for $3.2B, or $47.50 per share. Endurance offered Aspen shareholders the right to receive, at their election, all cash, all Endurance common shares, or a combination of cash and Endurance common shares in exchange for their stake in Aspen. Endurance, which said the cash consideration to be offered will be funded from cash resources and $1.05B of newly issued common shares to investors, argues that the combined company would be a global leader in specialty insurance and reinsurance with increased scale, market presence, diversification and profit potential and over $5 billion of combined annual gross premiums written. PRICE ACTION: In early trading, Aspen climbed $6.01, or 15.27%, to $45.38 and Endurance Specialty fell 2.95% to $52.23 before shares of both companies were halted for trading around 10 am ET. Other reinsurers rose, with Montpelier Re (MRH) advancing 2.2% to $29.94, Platinum Underwriters (PTP) gaining 1% to $60, and Validus (VR) adding 0.8% to $37.59.
News For AHL;ENH;MRH;PTP;VR From The Last 14 Days
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December 16, 2014
07:30 EDTAHL, ENH, MRH, VRUBS to hold a conference
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December 12, 2014
16:04 EDTENHEndurance Specialty files $500M mixed securities shelf
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December 11, 2014
10:00 EDTMRHMontpelier Re hires Credit Suisse to pursue sale, Insurance Insider says
The board of Montpelier Re has appointed Credit Suisse to advise on its strategic options and put the company up for sale, according to The Insurance Insider, citing sources. Montpelier Re shares are up 8% to $36.40 following the report. Reference Link
09:59 EDTMRHMontpelier Re hires Credit Suisse to pursue sale, Insurance Insider says
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December 10, 2014
11:44 EDTAHLAspen Insurance management to meet with Sterne Agee
Group luncheon to be held in New York on December 17 hosted by Sterne Agee.

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