Sept 14 (Reuters) – Michael Dell’s DFO Management and Sequence Holdings said on Monday they would take the Baldwin Insurance Group private in a deal valued at $7.7 billion. Under the terms of the deal, Baldwin shareholders will receive $32.50 apiece in cash. The offer represents a premium of about 88% to the stock’s closing […]
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Dell’s DFO Management and Sequence to take Baldwin private in $7.7 billion deal
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Sept 14 (Reuters) – Michael Dell’s DFO Management and Sequence Holdings said on Monday they would take the Baldwin Insurance Group private in a deal valued at $7.7 billion.
Under the terms of the deal, Baldwin shareholders will receive $32.50 apiece in cash.
The offer represents a premium of about 88% to the stock’s closing price on June 17, the day before media reports emerged about a potential go-private deal, the companies said. Baldwin shares were up 6.9% at $31.69 in premarket trading.
Baldwin, valued at around $4.14 billion, provides risk management solutions, insurance advisory and tech-enabled underwriting to businesses and individuals.
(Reporting by Pritam Biswas in Bengaluru; Editing by Shilpi Majumdar)