Arch Insurance North America Receives Regulatory Approval For Acquisition Of The U.S. MidCorp And Entertainment Businesses Of Allianz; Expect To Close The Transaction On August 1, 2024
Portfolio Pulse from Benzinga Newsdesk
Arch Insurance North America, a subsidiary of Arch Capital Group Ltd. (NASDAQ:ACGL), has received regulatory approval for its acquisition of the U.S. MidCorp and Entertainment insurance businesses of Allianz. The transaction is expected to close on August 1, 2024, pending customary closing conditions.
July 22, 2024 | 12:31 pm
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Arch Capital Group Ltd. (NASDAQ:ACGL) has received regulatory approval for its acquisition of Allianz's U.S. MidCorp and Entertainment insurance businesses. The deal is expected to close on August 1, 2024, pending customary closing conditions.
The regulatory approval is a significant milestone in the acquisition process, indicating a high likelihood of the deal closing as planned. This acquisition could enhance Arch Capital's market position and revenue streams, positively impacting its stock price in the short term.
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