Zurich-based Ace Ltd. announced late yesterday that it has completed its previously announced acquisition of Warren, N.J.-based Chubb Corp.
Ace paid approximately $29.5 billion in cash and stock, based on the most recent closing price of Ace Ltd. shares and the number of outstanding shares of Chubb common stock at the time of closing.
From today, Ace is adopting the Chubb name globally, and the new company begins trading this morning on the New York Stock Exchange under the symbol CB.
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