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WTRE - Why Watford Holdings Soared While Enstar Group Flat-Lined on Thursday
Watford Holdings Ltd.
Watford Holdings (NASDAQ: WTRE) , a somewhat obscure insurance and reinsurance provider, seems to be in play.
On Thursday, peer Enstar Group (NASDAQ: ESGR) offered to buy out the entirety of Watford for $31 per share, which would mean a rich premium of 35% on the previous day's closing price. Watford's stock blasted higher, ending the day up nearly 26% (but at $28.81, shy of Enstar's offer).