CNA Financial Corp. will acquire Hardy Underwriting Bermuda Ltd. through a cash acquisition of all Hardy common shares. The acquisition is to be implemented by way of a merger under the Bermuda Companies Act, and CNA will pay about $227 million for the shares.
CNA says the proposed transaction has been approved by the board of directors of both companies. Subject to the approval of Hardy shareholders, regulatory approvals and other conditions set forth in the agreement, the acquisition is expected to be completed during Q2 2012.
Register or login for access to this item and much more
All Digital Insurance content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access