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National General Sold to Allstate in $4 Billion Deal
- Client News
- January 4, 2021
Paul, Weiss advised National General Holdings Corporation in its sale to the Allstate Corporation for approximately $4 billion in cash. National General is a specialty personal lines insurance holding company serving a wide range of customer segments through a network of approximately 42,300 independent agents for property-liability products. Under the terms of the transaction, National General shareholders received $34.50 in total value per share, a 69% premium to National General’s closing share price prior to announcement of the transaction.
The Paul, Weiss team included corporate partners Adam Givertz, Jeffrey Marell and Christopher Cummings, and counsel Steve Centa, Christian Kurtz and Jason Tyler; tax partners Scott Sontag and Jeffrey Samuels; executive compensation partner Jean McLoughlin and counsel Reuven Falik; real estate partner Salvatore Gogliormella; intellectual property partner Claudine Meredith-Goujon; litigation partners Andrew Gordon, Geoffrey Chepiga and Andrew Finch, of counsel Stephen Lamb, and counsel Peter Jaffe, Steven Herzog and Rachel Fiorill; antitrust counsel Marta Kelly and Yuni Sobel; and personal representation partner Alan Halperin.