Baker & McKenzie advises on $5.7B international insurance deal

Partners Maura Ann McBreen and Sarah Winston were part of the firm’s team that advised Dai-ichi Life Insurance Co. on its $5.7 billion purchase of Protective Life Corp.

Sarah Winston

In what Baker & McKenzie describes as the largest acquisition of a foreign company by a Japanese insurer, partners Maura Ann McBreen and Sarah Winston were part of the firm’s team that advised Dai-ichi Life Insurance Co. on its $5.7 billion purchase of Protective Life Corp.

Under the terms of the deal, Dai-ichi Life will acquire all outstanding shares of Protective Life for $70 per share in cash. Founded in 1902, Dai-ichi Life is headquartered in Tokyo. Protective Life is headquartered in Birmingham, Ala. According to Protective Life, the deal will create the 13th largest global insurer, with total assets of $424 billion.

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Amy I. Stickel

Amy I. Stickel has extensive experience covering the legal, financial and pharmaceutical industries as a writer and editor. A past managing editor of Corporate Legal Times and...

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