Tower Group to gobble up CastlePoint Holdings, shares soar
Bermuda-based provider of property and casualty insurance CastlePoint Holdings, Ltd. (Nasdaq:CPHL) said this morning that it will be acquired by property and casualty insurance products company Tower Group, Inc. (Nasdaq:TWGP) for approximately $490 million, or $12.68 per share.
Shares spiked 27%, or $2.37, to $11.25 in pre-market trading. For detailed price information and recent news stories about CastlePoint Holdings, click CPHL.
For access to the full article, you must be a registered member - it's FREE.
Already a member? Please log in below
Not Registered?
Register today and enjoy all that SmallCapInvestor.com has to offer, including:
- Daily small cap stock profiles.
- Intra-day coverage of Russell 2000 companies.
- Research and insights from our analysts.
- Special reports.
