Seeking Alpha

Tower Group soars after new buyout proposal aired

Euroins Insurance Group has made a $3.75/share offer for Tower Group (TWGP +13.8%), subject to due diligence and "negotiation and execution of a definitive written agreement." The offer price soundly exceeds the ACP Re's (AFSI +0.1%) revised $2.50/share bid.

Tower shares are currently at $2.55, after having momentarily spiked as high as $3.01.

Comments (1)
  • JeffreyLangBoyd
    , contributor
    Comments (663) | Send Message
    Small Bulgarian insurer. Even if the offer is real (and I'm not sure it is), it is difficult to believe it would actually close.
    13 May 2014, 01:00 PM Reply Like
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