Hauser Insurance Enters Into Buyout Deal

Hauser Insurance Enters Into Buyout Deal

Hauser Insurance Corporation announced its intention to close its doors on December 31, 2017. The company will issue a court-approved statement of compatibility with the merger with the consent of the affected stockholders. The statement will be filed with the U.S. Securities and Exchange Commission (SEC). A bear market is a segment of the stock exchange characterized by a drop in the price of shares. A bear market may be triggered by many factors, such as a news report of a stock experiencing a downturn in price, a marketing event, or a change in market conditions. In the case of Brown-Brown, the company announced that it agreed to acquire Hauser Corporation based on a merger and the consent of the affected stockholders. The transaction will be completed within 120 days after the transaction is approved by the SEC. read more

Brown-Brown Acquires Hauser

On May 5, 2017, Brown-Brown bought up all outstanding shares of Hauser Insurance, making it a wholly-owned subsidiary of the firm. According to analysts’ estimates, the deal, worth $35 million, is the largest acquisition of a non-financial corporation in history. Since it was created in 2014, Brown-Brown Inc. has been a privately held company. It has significant assets (52% of which are worth $1.3 billion) and liabilities (39% of which are worth $1.1 billion) owned or controlled by the Brown family. The Brown family owns or has a controlling interest in more than 50% of the shares of Fannie Mae and advances some of its debts to Fannie Mae through a series of loans. During the first quarter of 2018, Brown-Brown Inc. completed the acquisition of Hauser Corporation. The transaction will be completed within 120 days after the transaction is approved by the SEC. Brown-Brown will pay out $55 million in cash, $25 million in equity, and $10 million in consideration for the acquisition of Hauser Insurance. The transaction is expected to be completed in the first half of 2019.

Original source to learn more: https://www.chrishauserinsurance.com/