Simpson Thacher Represents CNA Financial Corporation in Connection with Proposed Acquisition of the Public Minority Stake in CNA Surety Corporation
04.21.11
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Simpson Thacher is representing CNA Financial Corporation (NYSE: CNA) (“CNA Financial”) in connection with its announced definitive merger agreement pursuant to which a subsidiary of CNA Financial will commence a tender offer to acquire all of the outstanding shares of common stock of CNA Surety Corporation (NYSE: SUR) (“CNA Surety”) not currently owned by subsidiaries of CNA Financial for $26.55 per share in cash.
CNA Financial is the country’s seventh largest commercial insurance writer and the 13th largest property and casualty company. CNA Surety is the largest publicly traded surety company in the country.
The Simpson Thacher team for the transaction include Gary Horowitz, Chris May, Jim Cross and Whitney Jordan (M&A), Greg Grogan and Tyler Anderson (Executive Compensation and Employee Benefits) and Steven Todrys and Christian Miller (Tax).