Allstate to Acquire National General in $4 Billion Deal

Paul, Weiss is advising National General Holdings Corporation in its sale to the Allstate Corporation for approximately $4 billion in cash. 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. 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.

The Paul, Weiss team includes, among others, corporate partners Adam Givertz and Jeffrey Marell and counsel Steve Centa and Christian Kurtz; tax partner Scott Sontag; employee benefits partner Jean McLoughlin; 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.