Deals
Swiss Re Shares Jump Most Since 2011 on SoftBank Approach Talks
Softbank in Talks to Buy Swiss Re Stake
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Swiss Re AG shares rose the most in more than six years after the company confirmed that it’s in talks with SoftBank Group Corp. about the Japanese company taking a stake in the re-insurer.
The stock gained 6.8 percent in Zurich on Thursday, the highest intraday rise since November 2011, and was trading 5.9 percent higher at 9:17 a.m. local time. SoftBank could purchase as much as a third of Swiss Re AG, people familiar with the talks said, asking not to be identified because no agreement has been reached. The transaction could be valued at more than $10 billion.
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