Bowhead Specialty climbs on $1.2 billion acquisition deal by American Family
BOW•BOW•BOW•BOW•Separately, the company also reported Q2 adjusted EPS of $0.48, beating analysts' estimate of $0.47.
Eight analysts rate the stock "buy" and three rate it "hold"; the median price target is $33, according to data compiled by LSEG.
As of the last close, BOW shares were up 7.1% year to date.
Shares of Bowhead Specialty BOW.N rose 10.3% to $33.75 in premarket trading after the specialty insurer agreed to a $1.2 billion deal from American Family.
American Family will acquire all outstanding Bowhead shares it does not already own for $34 per share in cash. The offer represents about a 12% premium to Bowhead's last close of $30.35.
