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Market Chatter: American National Group Reportedly Weighs Options Including Sale

05/11/2021 11:47

03:45 PM EDT, 05/11/2021 (MT Newswires) -- American National Group (ANAT), a US insurer, is considering alternatives that might include a sale of the company, Reuters reported on Tuesday, citing unidentified sources.

An investment bank has been assigned with running an auction for American National, the news service reported, citing those sources.

Founded in 1905, American National is still majority owned by the founder's family, according to the report.

Shares of the Galveston, Texas-based company spiked as much as 16% on the news, before easing off to trade 13.7% higher recently.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 140.30, Change: +17.74, Percent Change: +14.47