Insurer ACE Ltd., based in Switzerland, agreed to buy Chubb Corp. for $28.3 billion in cash and stock, the companies announced July 1. Warren-based Chubb is a provider of homeowners’ insurance to Americans through its Masterpiece coverage. Chubb shareholders will receive $62.93 in cash and 0.602 of a share of ACE stock for each Chubb share they own, totaling approximately $124.13 per share.
$50M B&G Foods Acquisition
Parsippany-based B&G Foods Inc., which manufactures, sells and distributes a diverse portfolio of shelf-stable foods and household products, announced July 13 it had acquired Spartan Foods of America Inc., also known as Mama Mary’s, for approximately $50 million. Spartan Foods, of Spartanburg, South Carolina, makes gourmet pizza crusts.
