Tag Archive for 'CNA'

CNA Financial (CNA) Offers to Acquire CNA Surety (SUR) for $22/Share

Posted on November 1, 2010, 9:28 am. Closed

I suggested about 17 months ago that CNA Surety (SUR) was a compelling investment as it was trading 20% below book value and that it was a possibility CNA Financial (CNA) would eventually seek to acquire the rest of the company.

Lo and behold, CNA has offered to acquire SUR for $22/share. This is just slightly below book value. If I was a shareholder I would hope to get a better offer than this.