By Stephen Nakrosis
Shares of Hartford Financial Services Group Inc. are trading higher on Thursday after the company said it "received an unsolicited, non-binding proposal from Chubb Ltd. to acquire The Hartford."
The company said its board is "carefully considering the proposal with the assistance of its financial and legal advisors."
At 3:44 p.m. ET, shares of The Hartford were trading 14.39% higher at $65.67 a share. Volume at the time topped 16.7 million shares, above the 65-day average volume of some 2.1 million.
Earlier in the session, the shares touched a 52-week high of $66.08.
At 3:37 p.m. ET, shares of Chubb, Ltd. were trading 2.77% lower, at $167.88. Volume at the time topped 2.7 million shares, above the 65-day average volume of some 1.6 million shares.
Earlier in the day, Chubb stock touched a 52-week high of $179.01 a share.
--Write to Stephen Nakrosis at firstname.lastname@example.org
(END) Dow Jones Newswires
March 18, 2021 16:07 ET (20:07 GMT)Copyright (c) 2021 Dow Jones & Company, Inc.