Deal Overview
Buyer | Tawa plc |
Actual Acquirer | Tawa plc |
Target | PXRE Reinsurance Company |
Deal Type | Insurance Company |
Insurance Sector | Property & Casualty |
Agreement Date | 11/05/2007 |
Announcement Date | 11/06/2007 |
Announced Deal Value ($M) | 114.00 |
Announced Deal Value as Reported ($M) | 114.00 |
Status | Completed |
Announced Deal Value Per Share ($) | NA |
Completion Date | 03/31/2008 |
Consideration Breakout
Cash ($M) | 57.7 |
Deal Terms
Tawa plc paid $57.7 million in cash to acquire PXRE Reinsurance Company from Argo Group International Holdings Ltd. PXRE Reinsurance Company paid $75 million dividend to its shareholders. |
|
Percent Acquired (%) | 100.00 |
Accounting Method | Purchase |
Merger of Equals | No |
Estimated Cost Savings (%) | NA |
Estimated Cost Savings ($000) | NA |
Est. Restructuring Charges ($000) | NA |
Deal Advisors
Financial Advisors | |
Party Advised | Firm Name |
---|---|
Buyer | Peel Hunt LLP |
Seller | Keefe Bruyette & Woods Inc. |
Legal Counsel | |
Party Advised | Firm Name |
---|---|
Buyer | Dewey & LeBoeuf LLP |
Seller | Mayer Brown LLP |