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Stock Market & Financial Investment News

News Breaks
December 19, 2012
10:01 EDTAWH, AXS, ENH, MRH, PTP, VR, ALTE, MKLAlterra up after deal, analyst positive on Bermuda peers
Insurance company Alterra (ALTE) is rallying after Markel Corporation (MKL), a financial holding company, agreed to buy Alterra for $31 per share in cash and stock, or $3.13B. Each Alterra share will be exchanged for $10 and 0.04315 Markel shares, the companies said. In a note to investors earlier today, Wells Fargo analyst John Hall wrote that the acquisition of Alterra, which is based in Bermuda, should boost the share prices of other Bermuda based companies that are trading significantly below their book values. Allied World (AWH), AXIS Capital (AXS), Endurance Specialty (ENH), Montpelier Re (MRH), Platinum Underwriters (PTP), and Validus (VR) are examples of such companies, the analyst wrote. In early trading, Alterra surged 24.02% to $28.71, Allied World rose 1.89% to $80.15, Endurance Specialty gained 3.01% to $40.69, Montpelier Re added 1.97% to $22.78, Platinum Underwriters climbed 4.16% to $47.06, and Validus increased 1.54% to $34.85.
News For AWH;AXS;ENH;MRH;PTP;VR;ALTE;MKL From The Last 14 Days
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July 24, 2014
16:39 EDTVRValidus reports Q2 EPS $1.61, consensus $1.48
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July 23, 2014
16:51 EDTMKLMarkel announces acquisition of Cottrell
Markel Ventures announced the acquisition of a majority interest in Cottrell, Inc. and affiliated entities. Headquartered in Gainesville, Georgia, Cottrell is a global leader in the design, manufacture and delivery of over-the-road automobile transport equipment. Terms of the transaction were not disclosed.
16:38 EDTAWHAllied World reports Q2 operating EPS 76c, consensus 86c
Reports Q2 revenue $659.26M ,consensus $564.82M.
July 21, 2014
07:01 EDTENHAspen issues letter urging investors to reject Endurance proposals
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July 18, 2014
10:03 EDTPTPOn The Fly: Analyst Downgrade Summary
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06:07 EDTPTPPlatinum Underwriters downgraded to Market Perform at Keefe Bruyette
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July 17, 2014
10:00 EDTENHOn The Fly: Analyst Upgrade Summary
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07:36 EDTENHEndurance Specialty upgraded to Buy from Neutral at Janney Capital
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06:28 EDTENHEndurance Specialty upgraded to Buy from Neutral at Janney Capital
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06:27 EDTPTP, AXSPlatinum Q2 may turn reinsurance sentiment negative, says Citigroup
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July 16, 2014
16:03 EDTPTPPlatinum Underwriters reports Q2 EPS $1.34, consensus $1.52
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11:13 EDTMKLMarkel appoints Thomas Smith to newly created position Chief Marketing Officer
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08:33 EDTENHGlass Lewis recommends Aspen Insurance shareholders reject Endurance proposals
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July 14, 2014
09:45 EDTENHEndurance Specialty says 'disappointed' with ISS report
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July 11, 2014
18:05 EDTENHProxy 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 EDTENHAspen Insurance urges holders to reject both Endurance Specialty proposals
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08:40 EDTENHEndurance 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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