Steve Gelsi covers banking and cannabis as a Senior Reporter for MarketWatch.
Truist Financial Corp. TFC, +0.40% was up 2.5% in premarket trading on Tuesday after a report by Semafor that it’s in negotiations to sell the remaining 80% of its insurance brokerage business for $10 billion to Stone Point.
The private-equity firm already acquired 20% of the business earlier this year and is in talks to buy the remaining stake, according to the report, which cited unnamed people familiar with the deal. Citi analyst Keith Horwitz reiterated a buy rating on Truist and said the $10 billion price implies a valuation of about $2 billion more than the valuation the business got in February.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Truist in talks to sell insurance business for $10 billion - SemaforTruist in talks to sell insurance business for $10 billion - Semafor
Read more »
A long-disputed property in D.C. changes hands, but a question remainsTruist Financial Corp., the owner of a now-shuttered bank branch and plaza in Adams Morgan, has donated the land to a nonprofit that builds affordable housing.
Read more »
The reclusive Sly Stone returns, on the pageThe music legend who invented his own kind of funky hybrid of rock 'n' roll and R&B with his '60s group Sly and the Family Stone has just penned a memoir, 'Thank You (Falettinme Be Mice Elf Agin).'
Read more »
Sharon Stone Says She's 'Grateful' She Didn't 'Prioritize Hollywood' Over Motherhood (Exclusive)Sharon Stone shares with PEOPLE how motherhood has affected her 22 years after a near-death health incident
Read more »
Stone Age Ethiopians knew how to source their iron-rich rocksNo 1 source of global mining news and opinion
Read more »
Quirrell's Sorcerer's Stone Casting Almost Ruined Harry Potter & The Prisoner Of AzkabanA Harry Potter and the Prisoner of Azkaban actor had initially auditioned to play Quirrell in Sorcerer's Stone, and it's good he didn't get the part.
Read more »