Hartford rejects Chubb's 23 billion USD buyout offer

The Hartford Financial Services' Board of Directors has unanimously rejected the 23.24 billion USD buyout bid proposed by its competitor Chubb.

According to Hartford, such a transaction is neither in the interest of the company nor of its shareholders. In addition, the American group intends to pursue the implementation of its strategic plan.

Announced on 11 March 2021, Chubb's buyout offer was one of the largest M&A transactions in the market for several years.