Ace buying Chubb in cash-and-stock deal valued at $28.3B WARREN, N.J.- Insurer Ace is buying The Chubb Corp. in a cash-and-stock deal valued at about $28.3 billion that will boost its international presence. Chubb shareholders will receive $62.93 per share in cash and 0.6019 shares of Ace Ltd. stock. Chubb President and CEO John Finnegan will serve as executive vice chairman for external affairs of North America.
Source: The Associated Press
WRAPUP 2-Greece offers conditional okay to bailout, Germany sceptical *Scepticism in euro zone about lending more to Greece. ATHENS/ BRUSSELS, July 1- Greek Prime Minister Alexis Tsipras has written to international creditors saying Greece could accept their last bailout offer if some conditions were changed, but Germany expressed scepticism while saying the door was still open for negotiations. German Chancellor Angela...
| By: Paul Taylor and Renee Maltezou
German finmin: Unclear if can agree new Greek aid before July 20 BERLIN, July 1- German Finance Minister Wolfgang Schaeuble said on Wednesday that it was not clear if it would be possible to sort out a new bailout for Greece before Athens is due to repay 3.5 billion euros of bonds to the European Central Bank on July 20. "I won't make any predictions about that," he said at a news conference to present the German budget.
UPDATE 1-Tsipras offers conditional okay to bailout, creditors skeptical BRUSSELS, July 1- Greek Prime Minister Alexis Tsipras has written to international creditors saying Greece could accept a bailout offer published on June 28 if several conditions were changed, but Germany said the letter had come too late and did not go far enough. In exchange, Athens wants a 29 billion euro loan to cover all its debt service payments due in the...
Q3 begins with Greek crisis, data in focus Futures point to a higher open as Wall Street begins the second half of the year on reports that Greece might be willing to accept bailout conditions from its creditors. This morning, investors also get the first of two key jobs reports.