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Fairfax Financial to buy Allied World for $4.9 billion in cash-and-stock deal
December 19, 2016 / 2:09 AM / a year ago

Fairfax Financial to buy Allied World for $4.9 billion in cash-and-stock deal

Dec 18 (Reuters) - Fairfax Financial Holdings Limited and Allied World Assurance Company Holdings Ltd said on Sunday they agreed to merge in a $4.9 bln cash-and-stock deal, according to a joint news release.

The offer with dividend amounted to $54 per share for Allied World, or an 18 percent premium above the insurance company’s closing price on Friday, the release said.

Reporting by Jeffrey Dastin in New York; Editing by Peter Cooney

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