Zurich Financial Services' share price jumped 8.4% on 16 March after a report that the Swiss insurer was discussing a possible merger with St Paul Travelers.
The two companies were in merger talks in what could be one of the largest acquisitions by a US company in Europe, the Wall Street Journal has reported.
According to the report, the talks are preliminary and may go nowhere. Such a deal also would face serious hurdles and could take months to complete.
Zurich Financial has a $33.6 billion stockmarket value, compared with St. Paul Travelers' $29.9 billion.
The report added that a merger would allow the companies to cut costs, spread their risks and align their revenue streams.
