Montpelier Appoints New Director Thursday June 29, 8:23 am ET
HAMILTON, Bermuda--(BUSINESS WIRE)--June 29, 2006--Montpelier Re Holdings Ltd. (NYSE: MRH - News) announced today that Wilbur L. Ross, Jr. has been appointed to the Board of Directors of the Company. The appointment was effective upon the closing on June 28, 2006 of the additional 3,448,276 common shares of the Company acquired by two investment funds managed by WL Ross & Co. LLC.
That was the closing price on the day the deal closed and until that news the stock had been trending lower and lower. I'm more intrigued that there are price adjustment features in the second traunche.