Assured Guaranty Ltd. stock is up 4% in premarket trade Wednesday after the credit product provider to the financial sector said it’s creating the world’s fifth largest asset management business that handles collateralized loan obligations in a transaction with Sound Point Capital Management.
Assured Guaranty AGO said the deal that will immediately add to its earnings per share and return on equity and will result in 30% ownership of the combined entity in exchange for 100% of its equity in Assured Investment Management LLC…
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