Simpson Thacher Acts As Regulatory Counsel to First Mercury Financial Corporation and Represents BofA Merrill Lynch as Financial Advisor to First Mercury in Proposed Acquisition of First Mercury by Fairfax Financial Holdings Limited
10.29.10
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Simpson Thacher is acting as insurance regulatory counsel to First Mercury Financial Corporation (NYSE: FMR) and representing BofA Merrill Lynch, as financial advisor to First Mercury, in connection with First Mercury’s proposed acquisition by Fairfax Financial Holdings Limited (TSX: FFH and FFH.U). Under the terms of the agreement, First Mercury stockholders will receive $16.50 per share in cash, representing an aggregate transaction value of approximately $294 million. The transaction is expected to close in the first quarter of 2011, and is subject to customary conditions, including approval by First Mercury’s stockholders and state insurance regulatory approvals.
First Mercury provides insurance products and services primarily to the specialty commercial insurance markets, focusing on niche and underserved segments.
Steven DeLott and Hayley Urkevich are advising First Mercury as to insurance regulatory matters. The Simpson Thacher attorneys representing BofA Merrill Lynch in this matter are Peter Gordon, Atif Azher and Jeemin Chung.