Allstate Corporation’s $4 Billion Acquisition of National General

Paul, Weiss, Rifkind, Wharton & Garrison advised National General Holdings Corporation in the transaction.

Allstate Corporation executed the acquisiiton of National General Holdings Corporation for approximately $4 billion in cash.

Under the terms of the transaction, National General shareholders will receive $34.50 in total value per share, a 69% premium to National General’s closing share price. The transaction is expected to close in early 2021, subject to regulatory approvals and other customary closing conditions.

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.

The Allstate Corporation is an American-based insurance company, headquartered in Northfield Township, Illinois, near Northbrook since 1967.

The Paul, Weiss team advising National General included corporate partners Adam Givertz (Picture) and Jeffrey Marell and counsel Steve Centa and Christian Kurtz; tax partner Scott Sontag; employee benefits partner Jean McLoughlin and counsel Reuven Falik; real estate partner Salvatore Gogliormella; intellectual property partner Claudine Meredith-Goujon; litigation partner Andrew Gordon and counsel Steven Herzog, Peter Jaffe and Rachel Fiorill; and antitrust counsel Marta Kelly.

Involved fees earner: Stephen Centa – Paul Weiss Rifkind Wharton & Garrison; Reuven Falik – Paul Weiss Rifkind Wharton & Garrison; Rachel Fiorill – Paul Weiss Rifkind Wharton & Garrison; Adam Givertz – Paul Weiss Rifkind Wharton & Garrison; Salvatore Gogliormella – Paul Weiss Rifkind Wharton & Garrison; Andrew Gordon – Paul Weiss Rifkind Wharton & Garrison; Steven Herzog – Paul Weiss Rifkind Wharton & Garrison; Peter Jaffe – Paul Weiss Rifkind Wharton & Garrison; Marta Kelly – Paul Weiss Rifkind Wharton & Garrison; Christian Kurtz – Paul Weiss Rifkind Wharton & Garrison; Jeffrey Marell – Paul Weiss Rifkind Wharton & Garrison; Jean McLoughlin – Paul Weiss Rifkind Wharton & Garrison; Claudine Meredith-Goujon – Paul Weiss Rifkind Wharton & Garrison; Scott Sontag – Paul Weiss Rifkind Wharton & Garrison;

Law Firms: Paul Weiss Rifkind Wharton & Garrison;

Clients: National General Holdings Corporation;

Author: Ambrogio Visconti