Conyers has advised White Mountains Insurance Group, Ltd. (NYSE: WTM) on its “modified Dutch auction” self-tender offer to purchase up to US$500 million in value of its common shares.
The tender offer commenced on 22 August 2022 and will expire at midnight, New York City time, at the end of the day on 20 September 2022, unless extended. The common shares were made available at a purchase price not greater than US$1,400 nor less than US$1,250 per share, in cash, less any applicable withholding taxes and without interest. White Mountains’ common shares closed on the New York Stock Exchange at US$1,305.13 per share on 19 August 2022.
Conyers Director Chris Garrod and Associate Elizabeth Blankendal worked on the matter alongside Cravath, Swaine & Moore LLP.
Further details of the transaction are available on the White Mountains Insurance Group website here.