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Jefferies has been awarded the mandate to seek a buyer for the segment. -
Acrisure entered into a definitive agreement with Markel in March to acquire the MGA.
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The group acquired 13.97 million shares of Sura stock at almost $9.88 per share via the public acquisition offer, valuing the interest at almost $140mn.
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The company disclosed its IPO intentions early Tuesday saying the number of shares to be offered and the price range for the proposed offering have not yet been determined.
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Inside P&C’s news team runs you through the key M&A deals from the past week.
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Inside P&C’s news team runs you through the key developments from the week.
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Specialty firms gained market share compared to the broader insurance distribution peer group, making up 26% of total deals.
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The firm’s reinsurance heavy business mix, investments, and slowing value creation likely kept buyers away.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Inside P&C’s news team runs you through the key M&A deals from the past week.
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Alleghany said its representatives and financial advisers solicited alternative deals from 31 potentially interested third parties but did not receive any proposals.
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The agreement included a two business days’ notice period from March 21 and is followed by a no-shop 10-day period.
