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 |
