2023-05-12 07:48:00 ET
- SiriusPoint ( NYSE: SPNT ) plummeted 22% in premarket trading after Dan Loeb said he's no longer exploring an acquisition of the reinsurer.
- Although there were exploratory discussions, the parties were unable to reach consensus on the value of the possible transaction, according to a 13D filing on Friday.
- Famed hedge funder Loeb last month said he was exploring taking the reinsurer private.
- SiriusPoint ( SPNT ) was created in 2021 when Dan Loeb's Third Point Reinsurance agreed to combine with Sirius International Reinsurance.
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SiriusPoint plunges after Dan Loeb says no longer exploring acquisition