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Apollo Funds to buy Aspen Holdings in all-cash deal valued at $2.6 billion

Aspen Insurance Holdings Ltd. AHL, +4.43% on Tuesday mentioned it has agreed to be purchased by means of private fairness company Apollo Funds in an all-cash deal valued at $2.6 billion, those firms mentioned in a joint remark. Under terms of the settlement, which has been authorized by means of Aspen's board, Apollo will acquire all outstanding stocks of the worldwide insurer and reinsurer for $42.75 consistent with percentage in cash. The transaction is anticipated to close within the first part of 2019, topic to approval by means of regulators and Aspen shareholders. The deal worth represents a 6.6% premium to Aspen's remaining worth on Monday of $40.10 consistent with percentage. Shares of Aspen are down 1.2% this 12 months thru Monday's close.

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