Global Indemnity (GBLI) has made an indicative offer of $15 per share for James River Group (JRVR) in an all-stock proposal that would value the firm at about $550M, according to Insurance Insider’s Adam McNestrie. The indicative bid values the business at more than twice the current share price, the report noted. Following the report, shares of James River have jumped $1.58, or 23%, to $8.33 in Friday afternoon trading.
Don’t Miss TipRanks’ Half Year Sale
- Take advantage of TipRanks Premium for 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on JRVR:
- James River Group commences litigation agains Fleming Intermediate Holdings
- James River Commences Litigation Against Fleming Intermediate Holdings to Enforce Stock Purchase Agreement
- James River Group Boosts Executive Cash Incentives After Strategy Shifts
- James River Group price target lowered to $11 from $15 at Truist
- James River Group reports Q4 adjusted EPS 33c, consensus 44c