Chubb announced that it was reevaluating its options as a long-term investor in the Lloyd’s insurer Hiscox. Chubb currently has a 27-percent holding of Hiscox shares and had offered $3.087 a share, or $458 million, for the remaining Hiscox shares, prompting Hiscox’s withdrawal from negotiations. Chubb indicated it might sell or reduce its stake, which it acquired in 1998 for $3.3075 a share. Analysts have recently valued Hiscox at $3.38 and $4.41, and most believe a hostile takeover by Chubb unlikely given the number of shares the management of Hiscox holds.
Topics Chubb
Was this article valuable?
Here are more articles you may enjoy.
Read 14-Point Draft Memorandum of Understanding Between the US and Iran 
Virginia’s New Gun Laws Challenged by Some Local Prosecutors and Lawsuits 
Wanted: War-Zone Divers to Scrape Barnacles From Ships in Persian Gulf 
Wrong-Way AI Trade Costs Florida Stock-Picker $50 Billion From This Issue
