The Hartford Rejects Chubb Takeover Offer
The board of directors of Connecticut insurer The Hartford has unanimously rejected an unsolicited takeover bid from rival Chubb. The Swiss based insurance company had made an offer that valued The Hartford at around $23 billion. But The Hartford says such a deal is not in the best interests of the company and its shareholders. In a brief news release the board said that it will continue with the execution of the company’s strategic business plan. The Hartford employs more than 6,000 people in Connecticut and has been headquartered in the capital city for more than two centuries.