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Stock Market & Financial Investment News

News Breaks
February 26, 2013
19:00 EDTAHLAspen Insurance announces $150M accelerated share repurchase program
Aspen Insurance Holdings Limited announced that it has entered into an Accelerated Share Repurchase, or ASR, agreement with Goldman, Sachs & Co. to repurchase an aggregate of $150M of Aspen's ordinary shares under an accelerated share repurchase program. From January 1 through February 26, Aspen also repurchased approximately $47M of its ordinary shares in the open market. Under the ASR agreement, Aspen will pay $150M to Goldman in exchange for Aspen's ordinary shares. Aspen expects the substantial majority of shares to be delivered on March 1. Based on Aspen's closing share price on February 26, the ASR program and the completed open market share repurchases from January 1, together represent approximately 8% of the company's current total market capitalization. Aspen will have approximately $335M remaining under its current $500M share repurchase program authorized by the board and announced on February 7. The ordinary shares will be retired once repurchased.
News For AHL From The Last 14 Days
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July 23, 2014
16:50 EDTAHLAspen Insurance sees 11% operating return on equity in FY15
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16:50 EDTAHLAspen still expects to achieve or exceed 10% operating return on equity in FY14
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16:46 EDTAHLAspen Insurance reports Q2 EPS $1.40, consensus $1.34
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July 21, 2014
07:01 EDTAHLAspen issues letter urging investors to reject Endurance proposals
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July 17, 2014
07:36 EDTAHLEndurance Specialty upgraded to Buy from Neutral at Janney Capital
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July 16, 2014
08:33 EDTAHLGlass Lewis recommends Aspen Insurance shareholders reject Endurance proposals
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July 14, 2014
09:45 EDTAHLEndurance Specialty says 'disappointed' with ISS report
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July 11, 2014
18:05 EDTAHLProxy firm ISS, Egan-Jones reject both Endurance Specialty proposals
Aspen Insurance Holdings (AHL) noted that leading proxy advisory firms Institutional Shareholder Services and Egan-Jones Proxy Services recommend that Aspen shareholders REJECT both proposals made by Endurance Specialty (ENH) and REVOKE any authorizations submitted on such proposals by executing and returning Aspen’s BLUE revocation card. Chris O’Kane, Aspen’s CEO, said, “We are pleased that ISS and Egan-Jones agree with our position and are recommending that Aspen shareholders reject both of Endurance’s proposals. Rather than offering real value, Endurance is pursuing coercive legal tactics in an effort to buy Aspen at the lowest possible price. We urge shareholders to reject both of Endurance’s proposals.” In its recommendation, ISS noted that the proposals would cause unnecessary costs for Aspen shareholders, and Endurance shareholders, without providing equivalent benefit to Aspen shareholders. Aspen’s Board of Directors urges shareholders to REJECT both of Endurance’s proposals by promptly signing, dating and returning Aspen’s BLUE revocation card and disregarding Endurance’s white authorization card.
July 10, 2014
18:24 EDTAHLAspen Insurance urges holders to reject both Endurance Specialty proposals
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16:45 EDTAHLAspen Insurance sees Q2 diluted operating EPS $1.30-$1.35, consensus $1.22
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08:40 EDTAHLEndurance Specialty urges Aspen Insurance holders to vote WHITE proxy card
Endurance Specialty (ENH) is urging fellow shareholders of Aspen Insurance (AHL) to "tell Aspen's board and management it's time to put entrenched interests aside and focus on the clear benefits of Endurance's offer." In a letter being sent to Aspen shareholders, Endurance requests that Aspen shareholders vote FOR its proposals to requisition a special general meeting of shareholders in connection with Endurance's proposal to increase the size of Aspen's board of directors from 12 to 19 directors and to authorize support for the proposal of a Scheme of Arrangement by Endurance. By voting FOR Endurance's two proposals on the WHITE card, Aspen shareholders would be taking concrete action towards realizing the significant upfront premium and opportunity for long-term value of Endurance's offer.

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