Intact Financial To Acquire OneBeacon In Approx. $1.7 Bln Deal - Quick Facts

(RTTNews) - OneBeacon Insurance Group, Ltd. (OB) announced it has entered into a definitive merger agreement under which Intact Financial Corp. (IFC.TO) will acquire all outstanding OneBeacon shares for $18.10 in cash per share. This represents aggregate cash consideration of approximately $1.7 billion. In addition, OneBeacon debt of approximately $275 million will remain outstanding.

The transaction is subject to regulatory and shareholder approvals and other customary closing conditions, and is expected to close in the fourth quarter. OneBeacon expects to continue paying regular quarterly dividends consistent with past practice prior to closing.