Acquisition of Delphi Financial by Tokio Marine Closes
16 May 2012 - 4:56AM
Business Wire
Delphi Financial Group, Inc. (Delphi) (NYSE:DFG) today announced
the closing of its acquisition by Tokio Marine Holdings, Inc.
(Tokio Marine). The aggregate consideration paid in connection with
the merger was approximately $2.7 billion and the merger will
become effective today at 5:30 p.m., New York City time. Delphi
stockholders of record immediately prior to the effective time of
the merger will receive $1.00 in cash per share pursuant to a
one-time special dividend from Delphi for each share of stock they
own. The special dividend will be paid on May 16, 2012.
Delphi’s Class A common stock will be suspended for trading on
the New York Stock Exchange before the market opens on May 16, 2012
and will subsequently be delisted. The transaction was approved by
Delphi’s stockholders at a special meeting held on March 13,
2012.
About Delphi Financial Group, Inc.:
Delphi Financial Group, Inc. is a financial services company
focused on specialty insurance and insurance-related businesses.
Delphi is a leader in managing all aspects of employee absence to
enhance the productivity of its clients and provides the related
group insurance coverages: long-term and short-term disability,
life, excess workers’ compensation for self-insured employers,
large casualty programs including large deductible workers’
compensation, travel accident, dental and limited benefit health
insurance. Delphi’s asset accumulation business emphasizes
individual annuity products. Delphi’s corporate website address is
www.delphifin.com.
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