Simpson Thacher Reps CNA In $475M Surety Buy

Law360 (April 21, 2011, 3:43 PM EDT) -- CNA Financial Corp., the majority owner of CNA Surety Corp., on Thursday announced that it had agreed to purchase the remaining outstanding shares of the surety provider for $26.55 per share.

According to a filing with the U.S. Securities and Exchange Commission, the stake CNA Financial is set to buy up is valued at approximately $475 million. The deal represents a 21 percent increase from CNA Financial’s original $22-per-share offer on Nov. 1 for the remaining public stake in the largest publicly traded surety provider in...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.