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.
Damaged Manhattan Tower Owner to Reconstruct 15 Floors After Evacuation 
Developer Downplays Structural Concerns at ‘Unstable’ Midtown Manhattan Tower 
Shark Attack on Alabama Teen Inspires Start of National Alert System 
Merger Suits Stall Under DOJ Boss Who Opposes Blocking Deals From This Issue
