SPNT - SiriusPoint billionaire investor Daniel Loeb enter standstill agreement as buyout talks advance
2023-08-09 17:12:31 ET
- SiriusPoint ( NYSE: SPNT ) Wednesday said it entered into a standstill agreement with billionaire investor Daniel S. Loeb, following the conclusion of exploratory discussions over a potential acquisition of the global specialty insurer.
- Under the agreement, entailed Loeb would not take any action over controlling, changing, or influencing the company’s management, business, capitalization, or corporate structure.
- “We welcome the standstill agreement as a strong signal of support for the progress we are making towards creating long-term value in our business and for our shareholders, said SiriusPoint CEO Scott Egan.
- SPNT -5.5% after hours to $9.93
- Source: Press Release
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SiriusPoint, billionaire investor Daniel Loeb enter standstill agreement as buyout talks advance