Mergers & Acquisitions ·
Bowhead Specialty Holdings Inc. entered into an Agreement and Plan of Merger with American Family Mutual Insurance…
BOWBowhead Specialty Holdings Inc.
Bowhead Specialty Holdings Inc. entered into an Agreement and Plan of Merger with American Family Mutual Insurance Company, S.I., pursuant to which a wholly-owned subsidiary will merge with and into Bowhead, making it a direct wholly-owned subsidiary of American Family. Each outstanding share of common stock will be converted into the right to receive $34.00 per share in cash, valuing the transaction at approximately $1.2 billion. The Board unanimously recommended adoption by stockholders. Closing is subject to customary conditions, including stockholder approval and regulatory clearances from insurance regulators in Wisconsin and Texas, with an outside termination date of April 2, 2027. Bowhead operates as a specialty insurance provider offering casualty, professional liability, and healthcare liability products.