OWL - Why Blue Owl Capital Shares Are Higher Premarket Wednesday | Benzinga
Blue Owl Capital Inc. (NYSE:OWL) shares are trading higher after it disclosed a definitive purchase agreement to acquire Kuvare Insurance Services LP for $750 million.
Founded in 2015, Kuvare is a technology-enabled financial services firm operating several insurance and reinsurance businesses and has become a top 20 fixed and indexed annuity writer in the U.S, as per the company’s statement.
Blue Owl plans to fund the acquisition through $325 million in cash and $425 million in Class A shares.
The buyout is expected to close in the second or third quarter of ...