Business news for Thu, 27 Dec 2007 & with words provider+sale. 2 news.

TEL AVIV (MarketWatch) -- Assured Guaranty Ltd., the Hamilton, Bermuda, financial-services provider, said it closed a public offering of 12.5 million shares at $25.50 each. The sale reflected nearly 11.8 million shares in the original offering plus 720,000 more shares on which the underwriters took an option. Net proceeds total $304 million. Banc of America Securities and Merrill Lynch jointly ran the books for the deal. A reinsurance subsidiary will use the funds to pursue opportunities, Assured Guaranty said.

TEL AVIV (MarketWatch) -- Powell Industries Inc., the Houston provider of equipment to control, distribute and manage electrical and other processes, said its chairman and chief executive officer adopted a stock-sale plan in line with Securities and Exchange Commission Rule 10b5-1. Such plans enable corporate insiders to trade stock without violating laws and rules against trading on the basis of inside information. Thomas Powell, who holds the top two posts, wants to sell 200,000 Powell shares over six months. The stake represents less than 2% of the company's shares outstanding, Powell said in a statement on Thursday. And the sale will reduce the executive's stake in Powell Industries to 25% from 27%. The sale is part of Powell's plan to retire as CEO sometime this year. He'll remain on the board, Powell Industries said.