Skadden, Gowling Guide Travelers' $1.1B Canadian Biz Buy

Law360, New York (June 10, 2013, 2:04 PM EDT) -- Strengthening its presence in Canada, The Travelers Cos. Inc. has struck a $1.1 billion cash deal to scoop up The Dominion of Canada General Insurance Co. from E-L Financial Corp. Ltd., the parties announced Monday.

Travelers said it will fund the acquisition through a mix of debt, preferred stock financing and cash-on-hand. Dominion's offices will be merged with Traveler's Canadian operations in the area and the newly merged entity will continue to be headquartered in Toronto. Pending regulatory approvals, the deal is expected to close by...
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