Aon confirms plans to acquire Benfield.
Both boards have agreed a deal representing £3.50 ($6.55) per share in cash and assume £91m ($170m) of Benfield net debt, representing an enterprise value of approximately £935m ($1.75bn) on a fully diluted basis.
The consideration represents a 29% premium to Benfield’s closing stock price on August 21, 2008, the last trading day prior to the announcement of the agreement.
Following the close of the transaction, Aon said it intended to integrate the Benfield business with its existing reinsurance operations (Aon Re Global) and operate the division globally under the newly created Aon Benfield Re brand.
“This agreement reflects our ongoing efforts to ensure that Aon’s colleagues, capabilities and technology
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