Insurance company Tower Group International Ltd. said Monday that it agreed to sell itself to privately held reinsurer ACP Re Ltd. in a deal worth about $172.1 million . ACP Re said it will pay Tower Group shareholders $3 per share. That's slightly above its Friday closing price of $2.94 . Tower Group's shares have fallen 82 percent in the past 12 months. The deal is expected to close by this summer. After the deal, Tower Group will become a subsidiary of ACP Re. Both companies are based in Bermuda . Shares of Tower Group rose 2 cents to $2.96 in morning trading Monday.
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