New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
April 10, 2013
19:59 EDTPL, AXAHYProtective Life to acquire MONY and reinsure certain policies of MLOA for $1.06B
Protective Life Corporation (PL) announced that its principal subsidiary, Protective Life Insurance Company, has signed an agreement with certain subsidiaries of AXA SA (AXAHY) to acquire MONY Life Insurance Company and reinsure certain policies of MONY Life Insurance Company of America, or MLOA. Assuming a closing date of October 1, the purchase price paid to AXA is estimated to be approximately $1.06B, including statutory capital and surplus of approximately $303M. The total capital investment by Protective is estimated to be approximately $1.09B. The transaction will be subject to customary post-closing adjustments. Assuming an October 1 close, the transaction is expected to contribute 10c-15c to Protective's fully diluted EPS in 2013, 55c-65c per fully diluted share in 2014, and 65-75c per fully diluted share in 2015, net of integration and transition costs.
News For PL;AXAHY From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
January 22, 2015
17:03 EDTPLProtective Life takeover by Dai-ichi Life Insurance gets regulatory approval
The Dai-ichi Life Insurance Company and Protective Life Corporation announced that Dai-ichi has received all necessary approvals from regulatory authorities in the U.S. and Japan for the previously announced proposed acquisition of all of the outstanding shares of common stock of Protective Life Corporation pursuant to the Agreement and Plan of Merger entered into on June 3, 2014. The parties to the Merger Agreement intend to close the acquisition transaction with an effective date of February 1, 2015. On the effective date, each outstanding share of Protective common stock will convert into the right to receive $70.00 in cash, without interest.
January 14, 2015
09:27 EDTAXAHYUBS to hold a field trip
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use