UPDATE 1-France's Natixis sells 29.5% of Coface to Arch Capital in $520 mln deal [Reuters (UK)]
Arch Capital Group Ltd. (ACGL)
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Source: Reuters
UPDATE 1-France's Natixis sells 29.5% of Coface to Arch Capital in $520 mln deal - Reuters 2 Min Read (Adds details, background) PARIS, Feb 25 (Reuters) - French bank Natixis said on Tuesday it had agreed to sell a 29.5% stake in credit insurance company Coface to U.S. company Arch Capital Group, in a deal valued at around 480 million euros ($520 million). Natixis said it was selling the Coface stake for 10.70 euros per share, a discount of around 6% to Coface’s 11.38 euro closing price on Feb. 24. France’s fourth largest listed bank will hold 12.2% of Coface after the sale, which would free up 35 basis points for Natixis’ core equity tier one capital ratio but generate a one-off goodwill impairment charge of around 100 million euros in the first quarter of 2020. “Following the completion of the transaction, Natixis will continue to demonstrate its commitment to shareholder return with the distribution of all excess capital above target through ordinary dividends or other means,” it s
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ACGL
News
- Arch Capital Group Ltd. (NASDAQ: ACGL) had its price target raised by analysts at Morgan Stanley from $104.00 to $109.00. They now have an "overweight" rating on the stock.MarketBeat
- Arch Capital Group Ltd. (NASDAQ: ACGL) had its "market outperform" rating re-affirmed by analysts at JMP Securities. They now have a $100.00 price target on the stock.MarketBeat
- Reasons Why Investors Should Retain Arch Capital (ACGL) [Yahoo! Finance]Yahoo! Finance
- Arch Capital Group Ltd. (NASDAQ: ACGL) had its price target raised by analysts at Evercore ISI from $92.00 to $100.00. They now have an "in-line" rating on the stock.MarketBeat
- Arch Capital Group Ltd. (NASDAQ: ACGL) had its price target raised by analysts at Wells Fargo & Company from $104.00 to $109.00. They now have an "overweight" rating on the stock.MarketBeat
ACGL
Earnings
- 2/14/24 - Beat
ACGL
Sec Filings
- 4/5/24 - Form 8-K
- 3/28/24 - Form ARS
- 3/28/24 - Form DEFA14A
- ACGL's page on the SEC website