The Hartford Financial Services Group has agreed to make a cash tender offer for all of the publicly held shares of Hartford Life Class A Common Stock for $50.50 a share. The transaction is expected to be completed within 30 days of the offer.
Any shares not purchased in the offer would be acquired by The Hartford in a subsequent merger transaction at the same $50.50 per share cash price. When the transaction is completed, Hartford Life will be wholly owned by The Hartford.
The transaction completes a restructuring of The Hartford into two major operating entities: worldwide life operations and worldwide property-casualty operations.
Was this article valuable?
Here are more articles you may enjoy.
Agent-Carrier Relationships Improving, Survey Shows 
Premiums Will Skyrocket by 2035, and Discounts Not Enough for Wind Mit, Studies Say 
CFC Names Former Direct Line Exec Winslow as Group CEO, Succeeding O’Shea 
Travelers Builds Insurance-Specific LLM 
