Ambac Financial Group shares are trading lower after the company announced it signed a definitive agreement to acquire a 60% controlling stake in Beat Capital Partners. The company signed a definitive agreement to sell its legacy financial guarantee business.
Portfolio Pulse from Benzinga Newsdesk
Ambac Financial Group shares are trading lower after announcing a definitive agreement to acquire a 60% controlling stake in Beat Capital Partners and to sell its legacy financial guarantee business.
June 05, 2024 | 3:50 pm
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Ambac Financial Group shares are trading lower following the announcement of acquiring a 60% stake in Beat Capital Partners and selling its legacy financial guarantee business.
The market is reacting negatively to Ambac's strategic moves, possibly due to concerns over the acquisition's impact on financials and the sale of a core business segment.
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