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Stock Market & Financial Investment News

News Breaks
May 15, 2014
06:06 EDTTWGPTower Group turns down unsolicited proposal from Euroins Insurance Group
Tower Group received an unsolicited letter dated May 12 from Eurohold Group and Euroins Insurance Group outlining a proposed stock-for-stock transaction pursuant to which EIG would acquire Tower. Tower’s board of directors has unanimously determined that such proposal does not constitute and could not reasonably be expected to lead to a “Superior Proposal” as defined in the merger agreement amended as of May 8, among Tower, ACP Re, and London Acquisition Company Limited. As a result, Tower will not pursue the proposal contained in the letter. Tower continues to be bound by the terms of the merger agreement with ACP Re.
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August 26, 2014
11:12 EDTTWGPHigh option volume stocks
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August 20, 2014
11:09 EDTTWGPHigh option volume stocks
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August 19, 2014
17:02 EDTTWGPTower Group receives Nasdaq notice regarding listing requirements
Tower Group International announced that it received a notification letter from The Nasdaq Listing Qualification Department on August 14, stating that because Tower has not yet filed its Form 10-Q for the period ended June 30 with the SEC, it was not in compliance with the continued listing requirements under Nasdaq Listing Rule 5250c1. The Nasdaq notice has no immediate effect on the listing or trading of Tower's common stock on The Nasdaq Global Market. Under Nasdaq listing rules, Tower has 60 days to submit a plan to Nasdaq to regain compliance with the applicable listing rule. Tower currently expects to file the 10-Q with the SEC within approximately the next twenty days.

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