Baldwin gains after report says Michael Dell's firm nearing $7.7 billion takeover
BWIN•Shares rise on reported take-private deal
Shares of insurance brokerage firm Baldwin Insurance Group BWIN.O rose 4.8% to $31 in premarket trading after the Financial Times reported that Michael Dell's DFO Management is leading a planned $7.7 billion take-private deal for the company.
The proposed deal values Baldwin at $32.50 per share, representing a premium of about 10% to Friday's closing price.
Seven of 11 brokerages rate the stock "buy" or higher and four rate it "hold"; their median price target is $31, according to data compiled by LSEG.
Baldwin and DFO Management did not respond to requests for comment outside business hours on Sunday.
As of the last close, Baldwin stock was up 23.4% year to date.
