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The agreement includes a "go-shop" provision designed to afford an opportunity for other potential acquirers to determine whether they are interested in proposing to acquire Navigators. The agreement includes a “go-shop” provision designed to afford an opportunity for other potential acquirers to determine whether they are interested in proposing to acquire Navigators. (Photo: The Hartford)

The Hartford Financial Services Group Inc. has announced that it has entered into a definitive agreement to acquire The Navigators Group Inc. in an all-cash transaction that values Navigators at approximately $2.1 billion.

The transaction, which was unanimously approved by Navigators’ board of directors, is subject to regulatory and stockholder approvals and other customary closing conditions and is expected to close in the first half of 2019. Completion of the transaction is not subject to any financing conditions.

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Denny Jacob

Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected]

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