CF Corporation has announced that its shareholders have approved the previously announced merger with Fidelity & Guaranty (FGL).

The approval has paved the way to complete the deal as announced in May 2017, whereby CF Corporation agreed to acquire Fidelity & Guaranty Life for a cash transaction of $1.83bn.

Subject to regulatory approvals and certain other customary closing conditions, the transaction is expected to close in the fourth quarter of 2017.

CF Corporation, which operates as a special purpose vehicle (SPV) company formed for the purpose of merger and acquisitions, will pay $31.10 per share in cash, as well as the assumption of $405m of existing debt.

Upon closing of the transaction, CF Corporation will change its name to FGL Holdings. Chinh Chu and William Foley, II will continue to serve as co-executive chairmen, and Christopher Littlefield, Eric Marhoun and Dennis Vigneau, each a current member of FGL’s management team, will join FGL Holdings as executive officers.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData