HCC Insurance Holdings Inc. (NYSE:HCC)(3.2%) (HCC – $77.47 – NYSE) based in Houston Texas, is an international specialty insurer. On June 10, 2015, Tokio Marine Holdings announced that it would acquire HCC in a transaction worth $7.5 billion, or $78 cash per HCC share. Expected to close in the fourth quarter, the transaction has received shareholder approval and is now waiting for the results of the regulatory review.
From Mario Gabelli (Trades, Portfolio)'s third quarter 2015 ABC Fund commentary.
