|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||4.0000 - 4.1200|
|52 Week Range||3.5000 - 4.9200|
|Beta (3Y Monthly)||0.40|
|PE Ratio (TTM)||11.13|
|Forward Dividend & Yield||0.20 (4.87%)|
|1y Target Est||N/A|
Paris-based investment fund CIAM wanted to split the chairman and CEO roles at French re-insurer Scor SE, which has been run for 17 years by Denis Kessler. In addition, it tried to prevent the reelection of the company’s lead independent director Augustin de Romanet. The specific trigger was Kessler’s rejection last year of an unsolicited takeover approach for Scor from its biggest shareholder, Covea Group, another French insurer.
On Tuesday, Covea said a deal with Scor was no longer part of its “strategic options,” blaming the target’s refusal to talk, along with “continued attacks and hostile tactics.” Scor’s response was rapid and vigorous: A detailed statement strongly denying the accusation and announcing legal proceedings against Covea, chairman and chief executive officer Thierry Derez, as well as its advisers, Barclays and Rothschild. Scor seems to have been well prepared for Covea’s withdrawal. Scor said Credit Suisse Group AG, which had been advising and financing Covea, had told it back in November that it had dropped its support for the attempted bid.
One of the best investments we can make is in our own knowledge and skill set. With that in mind, this article will work through how we can use Return Read More...
French mutual Covea Group is attempting an ambitious 8.3 billion-euro ($9.6 billion) takeover of reinsurer Scor SE, run by charismatic veteran chairman Denis Kessler. After Axa SA's deal for XL Group Ltd. at the beginning of the year, a private equity bid last month for Aspen Insurance Holdings Ltd. and speculation that Allianz SE is on the prowl, it's natural that acquisitive insurers are moving on targets before anyone else does. Buying Scor would let it diversify its business away from French domestic motor and home insurance, and add corporate clients and international exposure.
French reinsurer Scor SE spurned an 8.3 billion euro ($9.6 billion) unsolicited takeover offer from its biggest shareholder Covea, which said it’s still interested in pursuing a deal. Scor shares climbed the most in almost a decade. Covea, a French mutual insurer that already has an 8.2 percent stake in Scor, offered to buy the remaining stock for 43 euros a share, which is 21 percent more than Scor’s closing price on Monday.
The United States has rejected a French request for waivers for its companies operating in Iran that Paris sought after President Donald Trump imposed sanctions on the Islamic Republic, French Finance Minister Bruno Le Maire told Le Figaro. Paris had singled out key areas where it expected either exemptions or extended wind-down periods for French companies, including energy, banking, pharmaceuticals and automotive.
This article is intended for those of you who are at the beginning of your investing journey and want to begin learning the link between SCOR SE (EPA:SCR)’s fundamentals andRead More...
After looking at SCOR SE’s (ENXTPA:SCR) latest earnings announcement (31 March 2018), I found it useful to revisit the company’s performance in the past couple of years and assess thisRead More...