Tokio Marine to acquire Delphi Financial Group for $2.7B

Tokyo-based Tokio Marine Holdings Inc. and Wilmington, Del.-based Delphi Financial Group Inc. entered into a definitive agreement wherein Tokio Marine will acquire all outstanding shares of Delphi Financial for $43.875 per class A share and $52.875 per class B share in cash, through its unit Tokio Marine & Nichido Fire Insurance Co. Ltd.

In addition, Delphi Financial shareholders will receive $1.00 in cash per share pursuant to a one-time special dividend from Delphi Financial for each share of class A and class B stock they own.