Flagstone's share price jumps on $623mn Validus
Click to enlarge Bermudian (re)insurance minnow Flagstone was the obvious big mover last week as an agreed $623mn offer from its larger rival Validus instantly added 20 percent to its share price.
Indeed, based on the current prices of both stocks, Flagstone ended the week $0.07 higher than the nominal value of Validus' cash and paper offer. This suggests that investors are confident of a sale completion, with perhaps some speculation that...
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