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Accelerant deal advances as go-shop period ends
Accelerant said no third-party alternative acquisition proposals emerged during the 40-day go-shop window, and shareholders are set to receive $20.25 per share in cash.
Accelerant said the 40-day go-shop period under its previously announced merger agreement has ended. According to Coverager, during the go-shop window Accelerant, with the help of financial advisors, was allowed to solicit and negotiate alternative acquisition proposals.
Coverager reports the affiliates of Thoma Bravo will acquire Accelerant in an all-cash transaction with an enterprise value of more than $4 billion. Accelerant said it did not receive any alternative acquisition proposals from any third party during the period.
The transaction is still expected to close in the first half of 2027, subject to customary closing conditions including approval by Accelerant shareholders and receipt of required regulatory approvals, Coverager added. Once the deal is completed, Accelerant will become a private company and its common shares will no longer be listed or traded on the New York Stock Exchange.
Accelerant Class A and Class B stockholders are expected to receive $20.25 per share in cash. Coverager also said WoodStar is expected to begin writing meaningful direct business on the Accelerant Risk Exchange in 2027, and Hippo will serve as a fronting carrier for more than $500 million in annual gross written premiums across Accelerant's U.S. portfolio in 2027.