ACP Re, Ltd. Completes Acquisition of Tower Group International, Ltd.
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.
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