Practice Areas - Corporate and M&A Law Firms and Lawyers
| Deal Date: | 11-08-2015 | Practice Area: | Corporate and M&A |
| Deal Title: | Symetra Financial Corporation Acquisition by Sumitomo Life | Industry: | Financial Services |
| Description: |
On August 11, 2015, Symetra Financial Corporation announced that it had entered into a definitive merger agreement with Sumitomo Life Insurance Company pursuant to which Sumitomo Life would acquire all of the outstanding shares of Symetra. Symetra shareholders would receive USD32.00 per share in cash at closing, plus a previously announced special dividend of USD0.50 per share in cash. The total combined transaction consideration of USD32.50 per share was approximately USD3.8 billion in aggregate and represented a 32% premium over Symetra's average stock price of USD24.64 for the 30 days ending August 5, 2015. Cravath represented Symetra in connection with this transaction.
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| Financial Center: | New York | Value: | 1000.01-5000.00 |
| Advised Party: | Target Company | Law Firm | Cravath |
| Target Company Jurisdiction: | United States | Acquiror Jurisdiction: | United States |
| Classification: |
Strategic Buyer Acquisitions Public Company - Recommended Offer |
Lawyer | Erik R Tavzel |
