ACP Re Completes Acquisition of Tower Group International

ACP Re has completed its acquisition of the troubled insurance giant Tower Group International. The deal will mean taking Tower out of public hands, according to a Monday press release. "As a result of the merger, each share of Tower common stock (other than shares owned by ACP Re, Tower or any subsidiary of either ACP Re or Tower and dissenting shares as to which appraisal rights were properly exercised) was converted into the right to receive $2.50 in cash, without interest, and Tower’s common shares will no longer be publicly traded," the statement reads. Tower stockholde...