| | Breaking Insurance News | | | Chubb Ltd., the global insurer led by Evan Greenberg, proposed an acquisition of Hartford Financial Services Group Inc. for about $23.2 billion in cash and stock in what could be one of the industry's biggest deals in years.
The New York-listed insurer's offer -- mostly in cash -- values Hartford at $65 a share, Chubb said late Thursday in a statement. That's about a 13% premium to Hartford's closing price Wednesday of $57.41. Hartford shares surged past the offer price to more than $68 apiece after Bloomberg reported that Chubb had approached Hartford about a deal. | | | | Read the full story |
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