Following U.S. Stocks may claim a “BIG Change,” in the course of current trading session: Montpelier Re Holdings Ltd (NYSE:MRH), Endurance Specialty Holdings (NYSE:ENH), Johnson Controls Inc (NYSE:JCI), CBRE Group Inc (NYSE:CBG)
- Montpelier Re Holdings Ltd (NYSE:MRH), with shares climbed 3.01% is now trading at $39.30, hitting new 52-week high of $40.24. The Stock is active as 43,724.00 shares changed hands versus its average volume of 232,393.00 shares.
- Endurance Specialty Holdings (NYSE:ENH), with shares dwindled -2.57% is now trading at $62.65. The Stock is active as 2,275.00 shares changed hands versus its average volume of 211,230.00 shares.
- Johnson Controls Inc (NYSE:JCI) with shares enhanced 1.67% is now trading at $50.64. The Stock is active as 2,449.00 shares changed hands versus its average volume of 3.16M shares.
- CBRE Group Inc (NYSE:CBG) with shares incline 4.35% is now trading at $38.12, hitting new 52-week high of $38.14. The Stock is active as 977,723 shares changed hands versus its average volume of 1.45M shares.
Latest NEWS regarding these Stocks are depicted underneath:
Endurance Specialty Holdings Ltd. (ENH) and Montpelier Re Holdings Ltd. (MRH) today uncovered that they have reached a definitive merger contract pursuant to which Endurance will attain Montpelier for consideration of 0.472 shares of Endurance and $9.89 in cash for each Montpelier ordinary share, which represents $40.24 per Montpelier ordinary share, or $1.83 billion in aggregate, based on Endurance’s closing price on March 30, 2015.
Under the terms of the contract, the aggregate consideration for the transaction will comprise of $450 million in cash and almost 21.5 million Endurance ordinary shares, which are valued at around $1.4 billion based on Endurance’s closing price on March 30, 2015. The cash portion of the consideration will be funded through a pre-closing dividend paid by Montpelier to its ordinary shareholders. Following conclusion of the transaction, Montpelier’s existing shareholders will own approximately 32% of Endurance’s outstanding ordinary shares.
The achievement price of $40.24 per Montpelier common share, based on Endurance`s closing price on March 30, 2015, represents a 19% premium to Montpelier`s unaffected closing price for each common share as of the close of business on December 10, 2014. The acquisition price also represents a multiple of 1.21x Montpelier`s fully converted book value per common share as of December 31, 2014.
Moreover, Montpelier Re Holdings Ltd. (MRH) expects to release its first quarter 2015 results following the market close on April 30, 2015. The Company will host a symposium call to discuss the results on May 1, 2015 at 8:00 a.m. Eastern Time.
Montpelier Re Holdings Ltd. (MRH) along its subsidiaries, offers insurance and reinsurance solutions worldwide. It works in three segments: Montpelier Bermuda, Montpelier at Lloyd’s, and Collateralized Reinsurance. Endurance Specialty Holdings Ltd. (ENH) along with its subsidiaries underwrites specialty lines of personal and commercial property and casualty insurance and reinsurance worldwide. It operates in two segments, Insurance and Reinsurance.
On the other hand, Johnson Controls, Inc. (JCI) proclaimed today that it has reached a definitive contract for the sale of its Global WorkPlace Solutions (GWS) business to CBRE Group, Inc. (NYSE:CBG), for $1.475 billion. The company declared its intentions to divest the GWS business in September 2014 as part of its strategy to invest in product businesses that are core to its multi-industrial portfolio and growth objectives. The contract includes a 10-year strategic relationship between the two companies. Johnson Controls will be the preferred provider of HVAC equipment, building automation systems and related services to the 5 billion sq. ft. portfolio of real estate and corporate facilities managed globally by CBRE and GWS. The contract offers Johnson Controls with new channels for its offerings and when fully operational is expected to generate up to $500 million of annual incremental revenue for the Johnson Controls Building Efficiency business.
Johnson Controls Inc. (JCI) works as a diversified technology and industrial company international. Its Building Efficiency segment designs, produces, markets, and installs integrated heating, ventilating, and air conditioning systems, as well as building management systems, controls, and security and mechanical equipment.
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