Ambac Financial Group shares rallied
Posted 11-05-2012 at 08:11 AM by marcitize12
Ambac Financial Group shares rallied Friday as investors reacted to a U.K. newspaper report that the embattled bond insurer may be acquired by Wilbur Ross, a billionaire investor who specializes in distressed companies and industries. Negotiations between Ross and New York-based Ambac are serious and progressing well, and a deal could come within the next two weeks, the Evening Standard reported late Thursday. The report cited unidentified "insiders.
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