Ambac Financial gets shareholder approval for sale of legacy guaranty business [Seeking Alpha]
Ambac Financial Group, Inc. (AMBC)
US:NASDAQ Investor Relations:
ir.ambac.com/investor-relations
Company Research
Source: Seeking Alpha
its legacy financial guaranty business to funds managed by Oaktree Capital Management LP, the company said on Wednesday. "The sale represents a meaningful step in a robust and thorough process to maximize the value of our legacy financial guarantee insurance business and enable us to achieve our strategy to transform Ambac into a specialty property and casualty insurance platform," said Ambac President and Chief Executive Officer Claude LeBlanc. Based on the final count from Wednesday special meeting, Ambac ( AMBC ) received the requisite approval from holders of a majority of the total outstanding shares of its common stock as of the record date, with ~95% of the votes cast to approve the deal. The transaction is expected to close in Q4 2024 or Q1 2025 after receiving U.S. and UK regulatory approval. The company agreed to the deal with Oaktree Capital in June. Ambac ( AMBC ) shares slipped 0.2 % in after-hours trading. More on Ambac Financial Group Ambac Financial Group I
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News
- With 86% institutional ownership, Ambac Financial Group, Inc. (NYSE:AMBC) is a favorite amongst the big guns [Yahoo! Finance]Yahoo! Finance
- Ambac Financial Group Third Quarter 2024 Earnings: US$0.59 loss per share (vs US$1.45 profit in 3Q 2023) [Yahoo! Finance]Yahoo! Finance
- Ambac Financial Group Inc (AMBC) Q3 2024 Earnings Call Highlights: Strong Revenue Growth Amidst ... [Yahoo! Finance]Yahoo! Finance
- Ambac Financial Group Inc (AMBC) Q3 2024 Earnings Call Transcript [Seeking Alpha]Seeking Alpha
- Ambac Reports Third Quarter 2024 Results and Approval of a $50 Million Stock Repurchase Program [Yahoo! Finance]Yahoo! Finance
AMBC
Earnings
- 11/12/24 - Miss
AMBC
Sec Filings
- 11/12/24 - Form 10-Q
- 11/12/24 - Form 8-K
- 11/12/24 - Form SC
- AMBC's page on the SEC website