Chubb Corp. (CB) announced Wednesday morning that it has agreed to be acquired by ACE Ltd. (ACE) for $28.3 billion. Chubb shareholders will receive $62.93 per share in cash and 0.6019 shares of ACE stock for each Chubb share.
Chubb gapped open dramatically higher Wednesday, but gave back some ground over the course of the trading session. The stock finished up by 24.85 at $119.99 on the highest volume of the year. Chubb soared to a new high for the year.
For comments and feedback contact: editorial@rttnews.com
Business News