Reported Earlier, James River Granted Motion Ordering Fleming to Complete its Pending Acquisition of JRG Re
Portfolio Pulse from Benzinga Newsdesk
James River Group Holdings, Ltd. (JRVR) announced that the Supreme Court, New York County, Commercial Division, has granted a preliminary injunction against Fleming Intermediate Holdings, ordering Fleming to complete its acquisition of JRG Reinsurance Company Ltd. on or before April 16, 2024. Fleming is a portfolio company of Altamont Capital Partners.
April 08, 2024 | 11:40 am
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POSITIVE IMPACT
James River Group Holdings, Ltd. (JRVR) is likely to experience a positive short-term impact due to the court's decision favoring its acquisition request.
The court's decision to grant a preliminary injunction against Fleming Intermediate Holdings, ordering it to complete the acquisition of JRG Reinsurance Company Ltd., is a significant legal victory for JRVR. This development removes a major hurdle in the acquisition process, potentially leading to strategic and financial benefits for JRVR. The positive outcome is likely to be viewed favorably by investors, potentially leading to a short-term uptick in JRVR's stock price.
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