Zurich Gains on Reports of Bid

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Shares of Swiss insurance company Zurich Financial Services rose sharply Friday following a report that the U.S. company St. Paul Travelers Cos. was in the early stages of negotiating a takeover bid.


The Wall Street Journal, citing unidentified sources, said that the Minnesota-based company was discussing the possibility of a merger with Zurich Financial, one of Europe’s biggest insurers. Zurich Financial declined to comment on the report, while St. Paul Travelers did not immediately return a call.


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