ACE To Acquire Chubb For $28.3 Bln In Aggregate - Quick Facts

(RTTNews) - ACE Limited (ACE) and The Chubb Corporation (CB) announced that both companies have unanimously approved a definitive agreement under which ACE will acquire Chubb.

Under the terms of the transaction, Chubb shareholders will receive $62.93 per share in cash and 0.6019 shares of ACE stock. Based on the closing price of ACE stock on June 30, 2015, the total value is about $124.13 per Chubb share, or $28.3 billion in the aggregate.

This is the equivalent of $125.87 per Chubb share using ACE's 20-day volume weighted average share price for the period ending June 30, 2015.

Upon closing of the transaction, ACE shareholders will own 70% of the combined company, and Chubb shareholders will own 30%. The consideration represents an approximately 30% premium to Chubb's closing price of $95.14 on June 30, 2015.