Tag: #BusinessMergers

ACE Limited To Acquire Chubb For $28.3 Billion

ACE Limited To Acquire Chubb For $28.3 Billion

ACE Limited and The Chubb Corporation announced today [July 1] that the Boards of Directors of both companies have unanimously approved a definitive agreement under which ACE will acquire Chubb. The announcement said, “Under the terms of the transaction, Chubb shareholders will receive $62.93 per share in cash and 0.6019 shares of ACE stock. “Based... Read more of this article

Montpelier Shareholders Vote For Merger

Montpelier Shareholders Vote For Merger

Bermuda-based Endurance Specialty Holdings Ltd. and Montpelier Re Holdings Ltd. announced that Montpelier common shareholders voted in favour of the proposed merger with Millhill Holdings Ltd., a direct, wholly-owned subsidiary of Endurance, at a special general meeting of Montpelier common shareholders held on June 30, 2015, in Pembroke, Bermuda. It... Read more of this article

Montpelier Re Declares $9.89 Special Dividend

Montpelier Re Declares $9.89 Special Dividend

Bermuda-based Montpelier Re Holdings Ltd. announced that its Board of Directors has declared, subject to certain conditions, the previously announced special dividend of $9.89 per common share in connection with its pending acquisition by Endurance Specialty Holdings Ltd. The special dividend would be payable prior to the effective time of the Merger... Read more of this article

EXOR Lawsuit: PartnerRe To ‘Vigorously Defend’

EXOR Lawsuit: PartnerRe To ‘Vigorously Defend’

EXOR has filed a definitive proxy statement with the United States Securities and Exchange Commission [SEC] in opposition to the proposed merger of AXIS Capital Holdings Limited and PartnerRe, and has also filed a lawsuit in a Bermuda court. In addition, on June 1, 2015 EXOR filed a lawsuit in the Supreme Court of Bermuda saying they are “seeking... Read more of this article

European Commission Approve Pending Merger

European Commission Approve Pending Merger

AXIS Capital Holdings Limited and PartnerRe Ltd. have received antitrust clearance from the European Commission with respect to the definitive amalgamation agreement that the two Bermuda-based companies announced on January 25, 2015. “AXIS Capital and PartnerRe have now received all competition-related approvals required for the completion of... Read more of this article

MultiStrat Group Acquires Annapolis Consulting

MultiStrat Group Acquires Annapolis Consulting

Multi-Strat Holdings Ltd. announced the acquisition of the entire business assets of the Annapolis Consulting Group LLC [ACG], an international consultancy business providing reinsurance and finality solutions for captives and corporate self-insureds. ACG is a Maryland-domiciled company with offices in Annapolis, MD, Greenville, SC, and Hamilton, Bermuda.... Read more of this article

Endurance To Hold Special General Meeting

Endurance To Hold Special General Meeting

Bermuda-based Endurance Specialty Holdings Ltd. announced that it has scheduled a special general meeting of its shareholders to seek approval for the issuance of Endurance ordinary shares to holders of Montpelier Re Holdings Ltd. common shares in connection with Endurance’s previously announced acquisition of Montpelier. The special general... Read more of this article

Appleby Advised Lexmark For Kofax Acquisition

Appleby Advised Lexmark For Kofax Acquisition

Appleby acted as Bermuda counsel to Lexmark International, Inc. [Lexmark] in relation to its acquisition of Kofax Limited [Kofax]. Lexmark and Kofax entered into a merger agreement pursuant to which Lexmark acquired all of the outstanding shares of Kofax for $11.00 per share in cash for a total enterprise value of approximately US$1billion, net of cash... Read more of this article

Tax Scrutiny Repels Bidders From Takeovers

Tax Scrutiny Repels Bidders From Takeovers

The IRS’s scrutiny of tax avoidance in offshore locations has discouraged bidders from taking over reinsurers, potentially reducing the companies’ value, Bloomberg reports. “Montpelier Re Holdings Ltd. and Platinum Underwriters Holdings Ltd., both based in Bermuda, have each said in recent regulatory filings that potential suitors backed away... Read more of this article

Arch Completes Restructuring Of Gulf Re

Arch Completes Restructuring Of Gulf Re

Arch Reinsurance Ltd‘s acquisition of Gulf Reinsurance Ltd., a specialty reinsurer based in the Dubai International Financial Centre, has been completed. The company said, Gulf Re was founded jointly by Arch and the Gulf Investment Corporation [GIC] in 2008. In 2014, Arch and the GIC signed an agreement whereby Arch would acquire 100% ownership... Read more of this article

Latest Tweets From Bernews