SiriusPoint Inc. SPNT shares added to their gains late Wednesday after the insurance company said Daniel Loeb’s hedge fund Third Point was considering a potential purchase, following his acknowledgement of a large stake earlier in the day. SiriusPoint shares rose as much as 2% after hours, following a 10% rally to close the regular session at $9.20. Earlier Wednesday, Loeb disclosed a 9.3% stake in the company, and said SiriusPoint is “undertaking the necessary steps to position…for long-term success,” and that Loeb “is fully supportive of the strategy and plan currently being pursued.” In the filing, ThirdPoint said it was considering buying the company but was unclear on a price. Sirius said it needs to “carefully evaluate any proposal.”
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
0
0
