Company Website:
http://www.twrgrpintl.com
NEW YORK -- (Business Wire)
Tower Group International, Ltd. (NASDAQ:TWGP) (“Tower”) announced today
that ACP Re, Ltd. (“ACP Re”) has completed the previously-announced
acquisition of Tower.
As a result of the merger, each share of Tower common stock (other than
shares owned by ACP Re, Tower or any subsidiary of either ACP Re or
Tower and dissenting shares as to which appraisal rights were properly
exercised) was converted into the right to receive $2.50 in cash,
without interest, and Tower’s common shares will no longer be publicly
traded.
As previously announced, the merger was approved by Tower’s stockholders
at a special meeting of the stockholders held on August 6, 2014.
About ACP Re
ACP Re is a Bermuda-based reinsurance company. The controlling
shareholder of ACP Re is a trust established by the founder of AmTrust
Financial Services, Inc., National General Holdings Corporation and
Maiden Holdings, Ltd.
About Tower
Tower is a Bermuda-based global diversified insurance and reinsurance
holding company. Through its insurance and reinsurance subsidiaries in
the U.S. and Bermuda, it delivers a broad range of commercial, personal
and specialty insurance products and services in the U.S. and specialty
reinsurance products globally through its distribution and underwriting
partners.
Contacts:
Tower Group International, Ltd.
William E. Hitselberger,
212-655-2110
Executive Vice President and Chief Financial Officer
bhitselberger@twrgrp.com
Source: Tower Group International, Ltd.
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