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NEW YORK and LONDON and MORRISTOWN, N.J., Jan. 15, 2021 /PRNewswire/ TowerBrook Capital Partners L.P. ( TowerBrook ), an international investment management firm, and Further Global Capital Management ( Further Global ), a private equity firm focused on the financial services industry, today announced the signing of a definitive merger agreement, under which affiliates of TowerBrook and Further Global will acquire all outstanding shares of common stock of ProSight Global, Inc. (NYSE: PROS) ( ProSight or the Company ), a domestic specialty insurance company, in an all-cash transaction valued at approximately $586,000,000.
Under the terms of the agreement, ProSight stockholders will receive $12.85 per share of common stock, which represents a 42% premium to the closing share price as on September 23, 2020, the last trading day prior to media reports about a possible acquisition by TowerBrook. TowerBrook will acquire a majority stake in Pro
/PRNewswire/ WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of ProSight Global, Inc..
TowerBrook Capital Partners and Further Global Capital Management will buy New Jersey-based property and casualty insurer ProSight Global for roughly $586 million, the companies said Friday, in an agreement assembled by Ropes & Gray, Sullivan & Cromwell, Sidley Austin and Kirkland.