Root Soars as WSJ Reports Embedded Insurance Offers $19.34 (1)

(Adds share move)

Car-insurance startup Root shares extended their gains, surging another 35% after the closing bell, following the Wall Street Journal’s report that Embedded Insurance has offered to acquire the car-insurance startup for $19.34 a share, citing unidentified people.

• James Hall, insurance-technology entrepreneur who runs Embedded Insurance, is still interested in pursuing a deal, the people added
• A spokesperson for Root said in an emailed statement to Dow Jones that the company’s board “evaluates how best to deliver shareholder value in accordance with its fiduciary duties”
• The shares climbed 60% during the regular session

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