Shearman Reps Fairfax In $294M First Mercury Deal

Law360, New York (October 29, 2010, 1:01 PM EDT) -- Fairfax Financial Holdings Ltd. has reached an agreement to acquire specialty insurer First Mercury Financial Corp. in a deal valued at approximately $294 million.

Under the terms of the transaction released late Thursday, Fairfax will acquire all outstanding shares of First Mercury common stock, with shareholders receiving $16.50 per share in cash.

The deal represents a premium of 45.2 percent on the closing price of First Mercury common stock on Thursday, and a 67.3 percent premium on the closing price 30 days before the deal was...
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