Endurance Specialty Holdings Ltd. (1.1%)(ENH – $92.40 –NYSE) (NYSE:ENH) is a Bermuda-based holding company which underwrites specialty insurance. It operates in two segments, insurance, and reinsurance. On October 5, 2016, the company agreed to be acquired for $93 cash per share by SOMPO Holdings Ltd of Japan. This would value the company at $6.3 billion in the transaction. Subject to regulatory approval and a shareholder vote, the deal is expected to close in February.
From Mario Gabelli (Trades, Portfolio)'s ABC Fund fourth quarter 2016 commentary.
