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PORTLAND, Ore. & TOKYO-- (BUSINESS WIRE) -- Meiji Yasuda Life Insurance Company and StanCorp Financial Group, Inc. (NYSE: SFG) on July 23 announced that they have entered into a definitive agreement under which Meiji Yasuda will acquire all outstanding shares of StanCorp (or “The Standard”) for $115.00 per share in cash. The acquisition price represents a 50.0% premium to StanCorp’s share price as of the close of business on July 23, 2015, and a 49.9% premium to StanCorp’s one-month-weighted average share price. The total transaction value is approximately $5.0 billion.
The Standard will become Meiji Yasuda’s primary U.S. presence and partner, operating under The Standard brand within Meiji Yasuda’s global structure. No changes to The Standard’s current operations are anticipated. The Standard’s Chairman, President and Chief Executive Officer, Greg Ness, and the current management team will continue to lead the business from The Standard’s headquarters in Portland. The Company will continue executing on its strategic plan and will maintain its current brand, employees, distribution channels and product mix. The Standard’s expertise in insurance, retirement and investment products and services, coupled with Meiji Yasuda’s global businesses and resources, will create a stronger and more diversified combined company with total assets of $327 billion.
StanCorp Financial Group, Inc. - Investor Relations - RSS Content
The Standard will become Meiji Yasuda’s primary U.S. presence and partner, operating under The Standard brand within Meiji Yasuda’s global structure. No changes to The Standard’s current operations are anticipated. The Standard’s Chairman, President and Chief Executive Officer, Greg Ness, and the current management team will continue to lead the business from The Standard’s headquarters in Portland. The Company will continue executing on its strategic plan and will maintain its current brand, employees, distribution channels and product mix. The Standard’s expertise in insurance, retirement and investment products and services, coupled with Meiji Yasuda’s global businesses and resources, will create a stronger and more diversified combined company with total assets of $327 billion.
StanCorp Financial Group, Inc. - Investor Relations - RSS Content
