Sullivan Guides Tokio Marine In $2.7B Delphi Buy

Law360, New York (December 21, 2011, 3:29 PM EST) -- One of Japan's biggest insurance companies, Tokio Marine Holdings Inc., is looking to further its global reach with a $2.7 billion deal to acquire Delaware-based Delphi Financial Group Inc., the company announced Wednesday.

The deal strengthens Tokio Marine's foothold in the U.S. property and casualty insurance markets and represents the Tokyo company's debut in the U.S. life insurance market, according to Tokio Marine.

Under the terms of the deal, Tokio Marine will pay Delphi shareholders $43.87 or $52.87 per share of common stock, depending on the...
To view the full article, register now.