News Breaks |
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| December 5, 2012 |
| 17:03 EDT |  | TRV | Travelers increases its ownership in its J. Malucelli JV
The Travelers Companies announced today that it has increased its ownership stake in J. Malucelli Participações em Seguros e Resseguros S.A., its joint venture in Brazil, by exercising a pre-existing option to purchase newly issued shares. As a result, Travelers has increased its stake in J. Malucelli from 43.4 percent to 49.5 percent. |
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News For TRV From The Last 14 Days Check below for free stories on TRV the last two weeks. |
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| June 10, 2013 |
| 09:05 EDT | | TRV | Travelers to acquire Dominion of Canada for $1.1B cash
The Travelers Companies announced that it has agreed to acquire The Dominion of Canada General Insurance Company from E-L Financial Corporation Limited for approximately $1.1B in cash, subject to adjustment. The Dominion and Travelers’ Canadian operations will be integrated and the combined organization will remain headquartered in Toronto. The transaction is expected to close in the fourth quarter of 2013, subject to regulatory approvals and other customary closing conditions. Travelers will fund the transaction, subject to market conditions, through a combination of debt and/or preferred stock financing and internal resources. Based on this financing plan, the company does not believe that the transaction will have a significant impact on anticipated share repurchases for 2013 or 2014. Jay Fishman, Chairman and CEO of Travelers, said, “This transaction is consistent with our strategy to make thoughtful investments in attractive markets outside the United States. The Dominion is a great franchise, and this is a very good opportunity for Travelers to significantly improve its market position and scale in a meaningful market. We expect that the transaction will have no significant impact on 2013 earnings per share and will be slightly accretive to 2014 earnings per share.” |
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| 09:04 EDT | | TRV | E-L financial agrees to sell The Dominion of Canada General to Travelers
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| 09:03 EDT | | TRV | Travelers to acquire The Dominion of Canada for $1.1B cash
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| June 5, 2013 |
| 10:07 EDT |  | TRV | On The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Audience (ADNC) initiated with a Hold at Benchmark Co.... Bank of Ireland (IRE) initiated with an Underweight at HSBC... Ellie Mae (ELLI) initiated with an Outperform at FBR Capital... Haemonetics (HAE) initiated with an Outperform at William Blair... Jive Software (JIVE) initiated with a Buy at Janney Capital... Northern Tier (NTI) initiated with a Buy at Citigroup... Workday (WDAY) initiated with a Market Perform at FBR Capital... Carlyle Group (CG) initiated with a Buy at Sandler O'Neill... XL Group (XL) initiated with a Neutral at Nomura... Travelers (TRV) initiated with a Neutral at Nomura... Marsh & McLennan (MMC) initiated with a Neutral at Nomura... Aon plc (AON) initiated with a Neutral at Nomura... Allstate (ALL) initiated with a Neutral at Nomura... AIG (AIG) initiated with a Neutral at Nomura... ACE Ltd. (ACE) initiated with a Buy at Nomura... Progressive (PGR) initiated with a Reduce at Nomura... First Solar (FSLR) coverage assumed with a Sell at Maxim... Jive Software (JIVE) reinstated with a Neutral at Credit Suisse... Standard Pacific (SPF) initiated with a Buy at BofA/Merrill... Axiall (AXLL) initiated with a Buy at BofA/Merrill. |
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| 08:27 EDT | | TRV | Travelers initiated with a Neutral at Nomura
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