Endurance Receives HSR, BMA ‘No-Objections’
Endurance Specialty Holdings Ltd. today [Apr 29] announced that it has” received early termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and all required regulatory no-objections from the Bermuda Monetary Authority” with respect to its previously announced acquisition of Montpelier Re Holdings Ltd.
The pending acquisition remains subject to other customary closing conditions, including receipt of shareholder and other regulatory approvals. Endurance said it expects to complete the acquisition early in the third quarter of 2015.
Last month, Endurance announced it will acquire Montpelier for consideration of 0.472 shares of Endurance and $9.89 in cash for each Montpelier common share, which represents $40.24 per Montpelier common share, or $1.83 billion in aggregate, based on Endurance’s closing price on March 30, 2015.
