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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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February 27, 2015
09:16 EDTPTPRenaissanceRe announces preliminary Platinum shareholder merger considerations
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08:17 EDTPTPPlatinum Underwriters shareholders approve acquisition by RenaissanceRe
Platinum Underwriters (PTP) announced that at a special general meeting of shareholders, all proposals related to the company's pending acquisition by RenaissanceRe (RNR) were overwhelmingly approved by the company's shareholders. The transaction is expected to close on March 2, 2015. As previously announced, prior to the effective time of the merger on March 2, 2015, Platinum will be paying a special dividend of $10.00 per Platinum common share to shareholders of record as of close of business today.
February 26, 2015
16:45 EDTENHEndurance Specialty raises quarterly dividend to 35c per share
Endurance Specialty announced that its board declared a quarterly dividend of 35c per share payable on its ordinary shares. The dividend on Endurance's outstanding ordinary shares will be payable on March 31, to the ordinary shareholders of record on March 17.
February 24, 2015
10:29 EDTPTPPlatinum Underwriters to host special shareholder meeting
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