Root shares spike 45% on news of takeover bid
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Root shares spike 45% on news of takeover bid

Farhin Lilywala
June 21, 2023
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Root’s shares skyrocketed 45% Wednesday on media reports that the company received a takeover bid of $19.34 per share from Embedded Insurance.

The stock traded after hours today at $13.90 per share.

This would be a premium to Root’s closing price Tuesday of $6.02

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Farhin Lilywala
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