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Weil, Gotshal & Manges LLP
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Old Mutual plc
Acquisition of Fidelity and Guaranty Life Insurance Company
When the St. Paul Companies wanted to sell their Fidelity and Guaranty and Thomas Jefferson life insurance subsidiaries in order to focus on property and casualty lines, Weil Gotshal was there to help Old Mutual plc with the acquisition. Consideration for the transaction, which was completed in September 2001, consisted of $635 million in cash and Old Mutual shares. Weil Gotshal assisted UK-based Old Mutual in making its first U.S. acquisition - of publicly traded United Asset Management Corp. - in 2000.
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