Aspen Insurance (NYSE:AHL) stock was surging after Japan-based Sompo Holdings (OTCPK:NHOLF) (OTCPK:SMPNY) announced an ~$3.5B acquisition of the specialty insurer.
AHL shares were +11.74% Wednesday pre-market to $35.99.
The unit Sompo International Holdings has entered into a definitive agreement to purchase 100% of the issued class A shares of Aspen for $37.50 per share in cash.
Media reports about Sompo Holdings being in talks to acquire the insurer had surfaced on August 20.
The consideration represents a 35.6% premium to the August 19 unaffected share price of $27.66, and 24.6% to the unaffected 30-day volume-weighted average price as of August 19.
The deal is expected to be immediately accretive to Sompo’s return on equity.
The transaction, unanimously approved by boards of both companies, is expected to close in the first half of 2026.
Source: https://seekingalpha.com/news/4489562-aspen-stock-jumps-on-35b-acquisition-by-japan-based-sompo