Thursday, 5 February 2009

Tower Group Completes CastlePoint

Tower Group, Inc. (NASDAQ: TWGP) today announced that it has completed its acquisition of CastlePoint Holdings, Ltd. (NASDAQ: CPHL) in a transaction valued at $531 million based on Tower’s current market price. Tower announced a definitive agreement to acquire CastlePoint on August 5, 2008. All closing conditions have been met.

With the close of the transaction, CastlePoint shares (NASDAQ: CPHL) will be delisted from the NASDAQ.

No comments: