Our M&A lawyers are among the most experienced and effective in the world. We represent many of the world's largest publicly traded and privately held companies, as well as leading private equity firms on their most important mergers, acquisitions and takeover transactions.
AmTrust Financial to be Taken Private by CEO, Karfunkel-Zyskind Family and Stone Point Capital in $2.7 Billion Deal
- Client News
- March 1, 2018
Insurer AmTrust Financial Services Inc. agreed to be taken private by Paul, Weiss clients Barry Zyskind, chairman and CEO of AmTrust, and family members George Karfunkel and Leah Karfunkel, along with a unit of Stone Point Capital LLC. The transaction values the fully diluted equity of the company at approximately $2.7 billion, excluding the company’s outstanding preferred stock. Under the terms of the deal, the public shareholders of AmTrust will receive $13.50 a share in cash, a premium of 33 percent over the closing stock price on Jan. 9, the last trading day before Stone Point and the Karfunkel-Zyskind family publicly announced their proposal. The Karfunkel-Zyskind Family and certain of its affiliates and related parties will rollover their shares in the transaction. Consequently, the buyers will acquire the roughly 45 percent of the company’s issued and outstanding common shares that the family and certain of its affiliates and related parties do not presently own or control. The deal is expected to close in the second half of 2018, subject to closing conditions.
The Paul, Weiss team includes corporate partners Ross Fieldston and Adam Givertz; litigation partners Andrew Gordon, Lorin Reisner and Stephen Lamb; tax partner Scott Sontag; and antitrust counsel Marta Kelly.