Shares of W.R. Berkley Corporation (WRB) rose more than 7% Friday, leading gainers on the S&P 500 after the 澳洲幸运5官方开奖结果体彩网:line insurance firm said Japan's Mitsui Sumitomo Insurance (MSI) will take a 15% stake in the company.

MSI will buy shares from the open market or other third parties with the goal of bu🧸ilding a 15% stake by the end of March 2026, the companies said in a ๊statement.

Once MSI reaches a 4.9% stake, the Japanese 🥂firm has committed to vote the shares in favor of what the Berkley family recommends. 🐼The Berkley family, with its 16% stake, will remain a larger shareholder than MSI.

After MSI surpasses a 12.5% stake, the Berkley family has said it will supဣport the nomination and election of an MSI-backed board member. Thไe family itself intends to continue having two board seats, according to a news release.

The agreement "will not have any effect on the day-to-day operations of the Company, nor will these arrangements reduce the Berkley Family’s commitment to the Company," the news release said Friday.

W.R. Berkley shares were recently up just under 8% and set an intraday record of $76.38 earlier in the session.