Hartford, CT, Dec. 17, 2015 – At a special meeting today, stockholders of The Phoenix Companies, Inc. (NYSE:PNX) (“Phoenix”) approved the adoption of the Agreement and Plan of Merger (the “merger agreement”), dated as of September 28, 2015, among Phoenix, Davero Merger Sub Corp. and Nassau Reinsurance Group Holdings, L.P. (“Nassau”). Subject to the terms and conditions of the merger agreement, Davero Merger Sub Corp., a direct wholly-owned subsidiary of Nassau, will be merged with and into Phoenix with Phoenix as the surviving company and a direct wholly-owned subsidiary of Nassau.
Hartford, CT, Nov. 12, 2015 – The Phoenix Companies, Inc. (NYSE:PNX) (“Phoenix”) today announced that it will hold a special meeting of stockholders on Thursday, Dec. 17, 2015, beginning at 10 a.m. EST. Stockholders of record at the close of business on Monday, Nov. 16, 2015, will be entitled to vote their shares at the special meeting.
NEW YORK, Oct. 8, 2015 — Nassau Reinsurance Group (“Nassau”) today announced that it has entered into a definitive agreement to acquire Universal American Corp.’s (NYSE:UAM) (“Universal American”) Traditional Insurance business (“Traditional Insurance business”). The transaction is expected to close in early 2016.
NEW YORK and HARTFORD, Conn., Sept. 29, 2015 – Nassau Reinsurance Group Holdings L.P. (“Nassau”) and The Phoenix Companies, Inc. (NYSE: PNX) (“Phoenix”) today announced that they have entered into a definitive agreement in which Nassau will acquire Phoenix for $37.50 per share in cash, or aggregate equity purchase price of $217.2 million. The purchase price represents a 188% premium over Phoenix’s closing stock price of $13.03 on Sept. 28, 2015.
NEW YORK, May 13, 2015 — Nassau Reinsurance Group (the “Company”) today announced the formation of its insurance and reinsurance business led by insurance industry executives Phillip J. Gass and Kostas Cheliotis. Nassau Reinsurance is focused on building and operating onshore and offshore platforms with long tail liabilities focused on the life, annuity and long-term care sectors. Nassau Reinsurance also announced that it received initial capital commitments of more than $750 million from various funds managed by Golden Gate Capital, a private investment firm with more than $12 billion of capital under management, along with Messrs. Gass and Cheliotis. Golden Gate Capital’s funds have no time horizons, which allow the firm to make long-term investments without liquidity constraints.