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Jan 28
2008
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GS Capital Partners to Buy USI HoldingsPosted by Clear Rock in Insurance MA |
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Big insurance broker USI Holdings Corp. (NASDAQ: USIH) has agreed to be acquired by GS Capital Partners, a private equity affiliate of Goldman, Sachs & Co., in a transaction valued at approximately $1.4 billion, including repayment of USI's existing debt obligations
Under the terms of the GS Capital merger agreement, USI stockholders will receive $17.00 in cash for each share of USI common stock they hold, representing a premium of 20.5 percent to the average closing share price for the 30 calendar days prior to October 24, 2006, the day USI announced that it had formed the special committee.
Under the terms of the GS Capital merger agreement, USI stockholders will receive $17.00 in cash for each share of USI common stock they hold, representing a premium of 20.5 percent to the average closing share price for the 30 calendar days prior to October 24, 2006, the day USI announced that it had formed the special committee.