ACP Re Completes Tower Group Acquisition

September 15, 2014

Tower Group International, Ltd. announced today that ACP Re, Ltd. has completed the previously-announced acquisition of Tower.

As a result of the merger, each share of Tower common stock [other than shares owned by ACP Re, Tower or any subsidiary of either ACP Re or Tower and dissenting shares as to which appraisal rights were properly exercised] was converted into the right to receive $2.50 in cash, without interest, and Tower’s common shares will no longer be publicly traded.

The merger was approved by Tower’s stockholders at a special meeting of the stockholders held on August 6, 2014.

ACP Re is a Bermuda-based reinsurance company, while Tower is a Bermuda-based global diversified insurance and reinsurance holding company.

Category: All, Business

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