This deal is sourced directly from Independence Holding Company's own 8-K press release exhibit, filed November 9, 2021. The release describes the mechanics of a controlling-shareholder buyout, including formation of a Special Committee of independent directors to negotiate on behalf of minority shareholders, which is a standard governance structure in going-private deals where the acquirer is already an insider.
Perella Weinberg Partners LP served as financial advisor to the Special Committee, per the press release: "Perella Weinberg Partners LP is acting as financial advisor, and Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as legal advisor, to the Special Committee." No other financial advisor is named in the excerpt, so Perella Weinberg appears to have been the sole financial advisor retained by the Special Committee representing minority shareholders.
On the legal side, Paul, Weiss, Rifkind, Wharton & Garrison LLP advised the Special Committee, Dentons US LLP advised the Company, and Davies Ward Phillips & Vineberg LLP advised Geneve, the acquirer.
The merger consideration was $57.00 per share in cash for minority shareholders, representing a 35.7% premium to the pre-announcement trading price, per the release. The going-private transaction was to be financed in part through proceeds from the sale of certain subsidiaries, Independence American Holdings Corp. and Standard Security Life Insurance Company of New York. The excerpt did not disclose an aggregate transaction value, an expected closing date, or whether the required majority-of-the-minority shareholder vote had yet occurred; these details were not present in the reviewed source document.