10 Firms End Friday Strong; 3 Reach All-Time Highs

2. W.R. Berkley Corporation (NYSE:WRB)

WR Berkley Corp. rallied for a fifth consecutive day on Friday to reach a new all-time high following news that Japan-based Mitsui Sumitomo Insurance is planning to acquire a significant stake in the company.

During the trading session, WRB hit a record high of $76.38 apiece before profit-taking pulled the company’s stock price lower to end just up by 7.53 percent at $71.27 apiece.

According to WRB, Mitsui is set to acquire a 15-percent stake in the company through open market purchase or private third-party transactions.

The Berkley family, however, said that it would not sell any of its common shares ownership in the company and that the Mitsui would not purchase any more shares directly from the firm.

WRB is a commercial lines property and casualty insurance holding firm based in Greenwich, Connecticut.