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Stock Market & Financial Investment News

News Breaks
November 28, 2012
14:21 EDTFSR, VRValidus Holdings receives regulatory approvals for Flagstone acquisition
Flagstone Reinsurance Holdings (FSR) announced that all regulatory approvals required for Validus Holdings, Ltd. (VR) to complete the acquisition of Flagstone have been received. As previously disclosed, the shareholders of Flagstone have approved all matters required to be approved by Flagstone's shareholders in order for Validus to acquire Flagstone. Flagstone expects that the acquisition will be completed prior to the opening of the U.S. markets on November 30, subject to the satisfaction of customary conditions to closing.
News For FSR;VR From The Last 14 Days
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April 14, 2014
16:11 EDTVRBarclays upgrades Aspen Insurance, sees start of reinsurance consolidation cycle
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10:24 EDTVRAspen Insurance jumps after receiving buyout proposal
Shares of Aspen Insurance (AHL) are rising after a peer in the insurance and reinsurance industry, Endurance Specialty (ENH), offered to buy the company. WHAT'S NEW: Endurance Specialty announced that it had sent a takeover proposal to Aspen, offering to buy the company for $3.2B, or $47.50 per share. Endurance offered Aspen shareholders the right to receive, at their election, all cash, all Endurance common shares, or a combination of cash and Endurance common shares in exchange for their stake in Aspen. Endurance, which said the cash consideration to be offered will be funded from cash resources and $1.05B of newly issued common shares to investors, argues that the combined company would be a global leader in specialty insurance and reinsurance with increased scale, market presence, diversification and profit potential and over $5 billion of combined annual gross premiums written. PRICE ACTION: In early trading, Aspen climbed $6.01, or 15.27%, to $45.38 and Endurance Specialty fell 2.95% to $52.23 before shares of both companies were halted for trading around 10 am ET. Other reinsurers rose, with Montpelier Re (MRH) advancing 2.2% to $29.94, Platinum Underwriters (PTP) gaining 1% to $60, and Validus (VR) adding 0.8% to $37.59.

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