Hints and tips:
...The debt was accumulated through two recent acquisitions of property and casualty insurers: the 2007 purchase of Ohio Casualty, followed in 2008 by the purchase of SafeCo....
...In 2008, he was seen as a natural choice for XL, having won plaudits before his tilt at office for a five-year turnround of Safeco, the Seattle-based insurer that was suffering the effects of a bloated cost...
...Boston-based Liberty Mutual is paying $68.25 per share in cash to acquire Safeco, a 51% premium to the Seattle-based insurer’s closing price on Tuesday of $45.23....
...Morgan Stanley and lawfirm Skadden Arps advised Safeco....
...Safeco shares jumped 42.4 per cent to $66.18 and Ambac slumped 36.1 per cent to $3.82 over the week. Consumer stocks also had an uneven week....
...Safeco shares jumped 45.8 per cent to $65.94. Better-than-expected results from Moody’s, the credit rating company, also helped steady the sector....
...Safeco, which agreed to be bought by Liberty Mutual for $6.2bn, jumped by over 50 per cent to $66.72 while Merrill Lynch rose 24.8 per cent to $49.83....
...Insurer Safeco rose after it reported earnings 23 per cent above analyst forecasts. Shares jumped 4.7 per cent to $54.10....
...Other insurers with personal lines in Florida include Chubb, up 1.6 per cent to $69.65; Hartford Financial Services Group, up 1.8 per cent to $62.34; and Safeco, up 1.3 per cent to $48.41....
...Nintendo bought Japanese-language signs behind the home plate at Seattle's Safeco Field, a spot that can cost millions of dollars per season....
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