The Hartford rejects Chubb’s acquisition proposal

The Hartford’s board of directors has unanimously rejected  Chubb’s proposed acquisition offer.

The Hartford said its board, after consultation with its financial and legal advisors, had determined that entering into discussions regarding a strategic transaction would not be in the best interests of the company or its shareholders.

The Hartford, which offers property and casualty insurance services, is advised by Goldman Sachs and Deutsche Bank, with Cleary Gottlieb Steen & Hamilton acting as legal counsel.

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