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ACE buying Chubb in cash and stock deal for $28.3B

Jul. 01, 2015 7:12 AM ETChubb Limited (CB) StockBy: Stephen Alpher, SA News Editor27 Comments
  • Chubb (NYSE:CB) owners will receive $62.93 per share in cash and 0.6019 shares of ACE stock for each share of Chubb they own - $124.13 per share based on ACE's closing price last night. Chubb closed at $95.14 - the stock's higher by 31.4% premarket to $125. ACE is ahead by 5.2% to $107.
  • ACE expects the purchase to be immediately accretive to EPS and book value, and by year three be accretive to EPS on a double-digit basis and accretive to ROE. The ROI should exceed ACE's cost of capital within two years, and tangible book value per share will return to its current level in three years.
  • A conference call is set for 8:30 ET.
  • Source: Press Release

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