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The judge relied heavily on a previous UK court decision. -
The deal values the business just under its closing price on Friday, at 0.97x book value.
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Quintes will continue to be led by Gijsbert van de Nieuwegiessen, CEO and founder.
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The carrier recognized a goodwill of $256mn and intangible assets of $39mn from the transaction.
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The Insurance Insider US news team runs you through this week’s key M&A deals.
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The investment will be used to scale operations and extend Cowbell's presence in key international markets.
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CFO Doug Howell said the company has invested around $700mn in M&A this year.
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Piper Sandler has been retained to advise the board as it seeks a new institutional backer.
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Sources said that Deloitte was retained to run the strategic process for the Texas-based business.
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Both parties expect to close the transaction on August 1, 2024.
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The Insurance Insider US news team runs you through this week’s key M&A deals.
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The news follows a string of deals that the stop-loss segment has seen in recent months.
