Japanese insurer Tokio Marine to buy US-based HCC for $7.5bn
Japanese insurer Tokio Marine
Tokyo - Arab Today
Tokio Marine Holdings has agreed to buy US-based HCC Insurance Holdings for $7.5 billion, the firms said Wednesday, the latest overseas acquisition by a Japanese insurer.
The cash deal will see Tokio Marine pay US$78 per share for HCC, a 35.8 percent premium on the US firm's average share price over the past month, a joint statement said.
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