New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
March 4, 2013
05:55 EDTAIG, AIG, RE, RE, ALTE, ALTE, XL, XL, ACGL, ACGL, MMC, MMC, CNA, CNA, Y, Y, MET, MET, PRE, PREAssociation of Insurance and Financial Analysts to hold a conference
38th Annual Conference of AIFA is being held in Boca Raton, Florida on March 3-5.
News For AIG;MET;Y;CNA;MMC;ACGL;XL;ALTE;RE;PRE From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | all recent news | >>
July 1, 2015
13:42 EDTMMCMarsh & McLennan Agency acquires J.W. Terrill, terms undisclosed
Subscribe for More Information
June 29, 2015
19:39 EDTPREPartnerRe says revised EXOR offer does not address fundamental risks
PartnerRe Ltd. continues to believe that EXOR’s offer poses significant and unacceptable risks, while also substantially undervaluing the company. The following are the key points that PartnerRe’s shareholders should understand about the terms of the current EXOR offer: EXOR acknowledges risks and weaknesses in its offer; regulatory "walkaway" risk remains; EXOR’s lenders have "veto" rights over regulatory process; and the revised contract does not protect PartnerRe shareholders. Reference Link
09:10 EDTPREExor updates PartnerRe offer by expanding legally binding guarantee for the deal
Subscribe for More Information
June 24, 2015
17:57 EDTAIG, METWall Street applauds Senate giving go-ahead for 'fast track' trade powers
Subscribe for More Information
10:11 EDTPREPartnerRe comments on 'continued misleading statements' by EXOR
Subscribe for More Information
June 23, 2015
10:08 EDTPREPartnerRe 'corrects' EXOR's 'misleading' press release on preferred shares
PartnerRe Ltd. (PRE) corrected "recent misleading statements made by EXOR regarding PartnerRe’s ratings in the event of a sale to EXOR. EXOR’s June 16 release implies that EXOR had received official guidance from Standard and Poor’s on the ratings of PartnerRe under potential EXOR ownership. PartnerRe believes it is imperative to make clear the following facts: S&P has not taken a view nor has it made any public statements regarding the credit or financial strength ratings of PartnerRe in the event of an EXOR acquisition. EXOR’s statements with regard to PartnerRe’s potential credit ratings are misleading, and do not reflect the views of S&P or S&P’s analyst for PartnerRe. PartnerRe does not anticipate that S&P will comment on the potential rating implications of a hypothetical EXOR acquisition of PartnerRe unless and until a definitive merger agreement is in place. Unlike common shareholders, perpetual preferred shareholders and creditors would retain a continuing interest in PartnerRe post-acquisition by EXOR. Preferred shares would be a fundamentally different security if PartnerRe were owned by EXOR vs. merged with AXIS (AXS). Notwithstanding EXOR’s assertions, PartnerRe’s credit standing and ratings will be impacted by developments at EXOR and vice versa. PartnerRe continues to believe that there is considerable downside risk involved in a sale to EXOR, on its current price and terms, especially for preferred shareholders."
08:45 EDTXLXL Group 5M share Block Trade priced at $38.00
The deal priced between the $37.90-$38.15 range. UBS acted as sole book running manager for the offering. For a complete list of this weeks deals visit The Fly's Syndicate section.
08:28 EDTPREEXOR says offer for PartnerRe 'superior by all significant measures'
EXOR S.p.A., the largest shareholder of PartnerRe Ltd. (PRE), is entering the second week of meetings with PartnerRe analysts and investors to ensure the maximum clarity regarding its offer for PartnerRe shareholders. EXOR says it "has received a positive response for its offer and for the presentation of the merits, certainty and superiority of its $137.50 per share, all-cash binding offer. In the face of the compelling facts presented by EXOR, after having already disseminated false statements on the EXOR transaction not endorsed by Standard & Poor’s PartnerRe continues its irresponsible campaign of intentionally and inappropriately misleading its shareholders. The more the PartnerRe board misleads its shareholders on the merits of the EXOR offer the clearer it is that the inferior AXIS (AXS) transaction is short on substance and long on execution and integration risks for its shareholders, employees and clients. EXOR is soliciting common and preferred shareholders to vote AGAINST the proposed AXIS transaction at the upcoming Special General Meeting of PartnerRe shareholders to be held on July 24. This will enable PartnerRe to accept EXOR’s superior offer for the company."
June 22, 2015
16:19 EDTXLXL Group 5M share Block Trade; price range $37.90-$38.15
UBS is acting as sole book running manager for the offering that is expected to price before the open tomorrow.
10:00 EDTMETOn The Fly: Analyst Upgrade Summary
Subscribe for More Information
10:00 EDTMMCOn The Fly: Analyst Downgrade Summary
Subscribe for More Information
07:26 EDTMETMetLife upgraded on share repurchase, interest rate outlook at RBC Capital
Subscribe for More Information
07:03 EDTPREPartnerRe files presentation detailing risks posed by EXOR's offer
Subscribe for More Information
06:14 EDTMETMetLife upgraded to Outperform from Sector Perform at RBC Capital
Subscribe for More Information
05:39 EDTMMCMarsh & McLennan downgraded to Neutral from Buy at Goldman
Goldman Sachs downgraded Marsh & McLennan to Neutral citing the stock's proximity to its unchanged price target of $60. Goldman notes shares are up 61% since the firm upgraded Marsh to Buy on February 6, 2013.
June 19, 2015
06:14 EDTPRE, ACGLAxis, Arch Capital not in deal talks, Reuters reports
Subscribe for More Information
June 18, 2015
10:01 EDTACGLOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Arch Capital (ACGL) downgraded to Market Perform from Outperform at BMO Capital... Bankrate (RATE) downgraded on revenue headwinds at SunTrust... Carter's (CRI) downgraded to Neutral from Buy at Sterne Agee CRT... Lumenis (LMNS) downgraded to Market Perform from Outperform at Wells Fargo... Nimble Storage (NMBL) downgraded to Hold from Buy at Wunderlich... Southwest (LUV) downgraded to Underweight from Overweight at Barclays... Spirit Airlines (SAVE) downgraded to Neutral from Outperform at Credit... Webster Financial (WBS) downgraded to Underweight from Equal Weight at Morgan Stanley.
07:15 EDTPRE, ACGLArch Capital may bid as much as $65 per share for AXIS Capital, FT says
Subscribe for More Information
07:10 EDTPREPartnerRe: Recommendation of AXIS deal result of 'rigorous, objective' process
PartnerRe (PRE) has made available a presentation on its website and on that the company says provides a "thorough overview of the rigorous and objective process its Board of Directors undertook over the past two years to achieve the best possible outcome for shareholders. The PartnerRe Board has acted – and continues to act – in the best interests of the company and its shareholders, and the merger of equals with AXIS Capital (AXS) is the result of a thorough exploration of strategic opportunities." PartnerRe added: "EXOR has made various deceptive assertions in a transparent effort to distract shareholders from the inadequacy of its opportunistic offer for PartnerRe relative to the merits of the AXIS Capital transaction. The merger of equals with AXIS Capital delivers PartnerRe shareholders superior value and a clear path to closing, and is the result of a high quality governance process...The PartnerRe Board of Directors continues to urge its shareholders of both common and preferred shares to promptly use the white proxy card to vote for the Amalgamation Agreement with AXIS Capital at the shareholder meeting on July 24."
06:44 EDTACGLArch Capital downgraded to Market Perform from Outperform at BMO Capital
BMO Capital downgraded Arch Capital to Market Perform with a $67 price target citing strong share performance year-to-date.
1 | 2 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the disclaimer & terms of use