St. Paul Travelers Companies, after initially refusing comment, has denied it is in merger talks with Zurich Financial Services Group. The St. Paul, Minn.-based company issued a statement denying that discussions were going on with Zurich, saying such reports “are not true.”
“While the company also affirmed that its policy is to avoid any comment on, or response to, market rumors or speculation, the factual and definitive manner in which the reports were made, both nationally and internationally, has prompted the company to provide this clarification,” St. Paul-Travelers said.
Zurich has declined to comment.
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