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Stock Market & Financial Investment News

News Breaks
April 17, 2014
09:13 EDTAHLAspen Insurance adopts one-year shareholder rights plan
Aspen Insurance announced that its Board of Directors has adopted a shareholders rights plan and resolved to issue one preferred share purchase right on each share of the companyís ordinary shares issued and outstanding at the close of business on April 28. The Rights Plan expires on April 16, 2015, and the Board of Directors may terminate the Rights Plan at any time if it no longer believes that the Rights Plan is in the best interests of the company and its shareholders. In the absence of further action by the Board of Directors and subject to certain exceptions, if a person or group acquires beneficial ownership of 10% or more of Aspenís ordinary shares -- 15% in the case of a passive institutional investor -- the rights generally will become exercisable and allow holders -- other than the person or group members acquiring such beneficial ownership -- to acquire the company's ordinary shares at a discounted price. In addition, at any time after a person or group acquires 10% or more of Aspenís ordinary shares, the Board of Directors may determine to exchange one Aspen ordinary share for each outstanding right.The Rights Plan is designed to deter abusive tactics from being used in a proposed takeover, to ensure that shareholders receive fair and equal treatment in any proposed takeover of the company and to provide that any transaction would appropriately reward our shareholders and be beneficial to the company.
News For AHL From The Last 14 Days
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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 Aspenís BLUE revocation card. Chris OíKane, Aspenís CEO, said, ďWe are pleased that ISS and Egan-Jones agree with our position and are recommending that Aspen shareholders reject both of Enduranceís 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 Enduranceís proposals.Ē 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. Aspenís Board of Directors urges shareholders to REJECT both of Enduranceís proposals by promptly signing, dating and returning Aspenís BLUE revocation card and disregarding Enduranceís 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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