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Stock Market & Financial Investment News

News Breaks
December 19, 2012
10:01 EDTMKL, PTP, AXS, ALTE, MRH, AWH, VR, ENHAlterra 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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June 29, 2015
09:10 EDTAXSExor updates PartnerRe offer by expanding legally binding guarantee for the deal
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June 26, 2015
15:09 EDTMRH, ENHMontpelier Re to host special shareholder meeting
Special Shareholder Meeting to vote upon a proposal to approve the previously announced merger with Endurance Specialty Holdings (ENH) will be held in Pembroke, Bermuda on June 30 at 9:30 am.
15:07 EDTMRH, ENHEndurance Specialty to host special shareholder meeting
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June 24, 2015
10:11 EDTAXSPartnerRe comments on 'continued misleading statements' by EXOR
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June 23, 2015
08:28 EDTAXSEXOR 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
10:00 EDTAXSOn The Fly: Analyst Downgrade Summary
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07:59 EDTAXSAXIS Capital downgraded to Neutral from Buy at MKM Partners
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07:04 EDTAWHAllied World management to meet with MKM Partners
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07:03 EDTAXSPartnerRe files presentation detailing risks posed by EXOR's offer
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06:26 EDTAXSAXIS Capital downgraded to Neutral from Buy at MKM Partners
June 19, 2015
09:26 EDTENH, MRHMontpelier Re declares specal dividend in connection with proposed acquisition
Montpelier Re Holdings Ltd. (MRH) announced that its Board of Directors has declared, subject to certain conditions, the previously announced special dividend of $9.89 per common share in connection with its pending acquisition by Endurance Specialty Holdings Ltd. (ENH) The special dividend would be payable prior to the effective time of the Merger on the closing date of the Merger to Montpelier shareholders of record at the close of business on the last business day prior to the Closing Date. The special dividend is contingent upon the satisfaction of various Merger closing conditions, including the approval of the Merger by the requisite vote of Montpelier common shareholders and the approval of the Endurance share issuance associated with the Merger by the requisite vote of Endurance ordinary shareholders. Montpelier and Endurance have each scheduled special general meetings of their respective shareholders for June 30 to consider and vote upon matters related to the Merger. There can be no assurance that the Closing Date will occur or that the special dividend will be paid.
06:14 EDTAXSAxis, Arch Capital not in deal talks, Reuters reports
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June 18, 2015
07:15 EDTAXSArch Capital may bid as much as $65 per share for AXIS Capital, FT says
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07:10 EDTAXSPartnerRe: Recommendation of AXIS deal result of 'rigorous, objective' process
PartnerRe (PRE) has made available a presentation on its website and on www.partnerre-valuecreation.com 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."
June 17, 2015
10:00 EDTAXSOn The Fly: Analyst Downgrade Summary
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07:52 EDTAXSAXIS Capital downgraded on valuation at BMO Capital
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07:02 EDTAXSPartnerRe urges shareholders to vote for merger with AXIS Capital
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06:40 EDTAXSAXIS Capital downgraded to Market Perform from Outperform at BMO Capital
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