The transaction is sourced from an SEC EDGAR Form 8-K filing published on May 3, 2023. Based on the facts provided, the deal's status is pending regulatory approval.
On the financial advisory side, Evercore Group L.L.C. acted as financial advisor to AIG, the seller in this transaction, with the source material noting that Evercore Group L.L.C. and Sidley Austin LLP acted as financial advisor and legal counsel, respectively, for AIG. No financial advisor to American Financial Group, the acquirer, is identified in the facts provided.
On the legal side, Sidley Austin LLP acted as legal counsel for AIG, the seller, paired with Evercore in the same source sentence. Skadden, Arps, Slate, Meagher & Flom LLP acted as legal counsel for AFG, the acquirer.
Beyond confirming that this is a cash acquisition with a disclosed value of 240,000,000 dollars, no further detail on the specific payment structure or any adjustment mechanisms is included in the facts available.
A number of elements of this deal remain undisclosed. No financial advisor to American Financial Group, the acquirer, is identified, and no expected closing date is given. The facts also do not specify what regulatory approvals are required to complete the transaction beyond the disclosed value of 240,000,000 dollars.