Montpelier’s $1.83 Billion Acquisition by Endurance
March 31, 2015
On March 31, 2015, Endurance Specialty Holdings Ltd. and Montpelier Re Holdings Ltd. announced that they have entered into a definitive merger agreement pursuant to which Endurance will acquire Montpelier for consideration of 0.472 shares of Endurance and $9.89 in cash for each Montpelier common share, which represents $40.24 per Montpelier common share, or $1.83 billion in aggregate, based on Endurance’s closing price on March 30, 2015. Cravath represented Montpelier in connection with this transaction, which is expected to be completed in the third quarter of 2015 and is subject to the approval of both companies’ shareholders, regulatory approvals and the satisfaction of customary closing conditions.
The Cravath team included associates Wesley C. Bell and Christine H. Liu and foreign associate attorney Justin Hope on M&A matters; partner Craig F. Arcella on corporate and securities matters; associate Sarah W. Colangelo on executive compensation and benefits matters; and Of Counsel Michael L. Schler and associate Jonathan D. Grossman on tax matters. William F. Roegge also worked on corporate matters.
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J.D., 1998, Columbia Law SchoolHarlan Fiske Stone Scholar
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B.A., 1995, Duke University
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LL.M., 1979, New York University
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J.D., 1973, Yale Law School
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B.A., 1970, Harvard Universitymagna cum laude
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