Onex stock surges after Convex acquisition and AIG strategic deal By Investing.com
Update: 2025-10-30
Description
Onex Corporation, a Toronto-based investment firm, is making a significant move by acquiring specialty insurer Convex Group with help from AIG. This $7 billion deal values Convex at 1.9 times its expected tangible book value, making it a substantial investment. AIG will also acquire a 10% equity stake in Onex and commit $2 billion to Onex's private equity and credit strategies. This deal will significantly shift Onex's investment strategy, with Convex representing nearly half of its investing capital once completed.
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