05/22/2026 | Press release | Distributed by Public on 05/22/2026 06:05
As previously disclosed, on September 26, 2025, Tiptree Inc., a Maryland corporation ("Tiptree") entered into an Agreement and Plan of Merger (as amended, the "Merger Agreement") with DB Insurance Co., Ltd., incorporated and existing under the laws of the Republic of Korea ("Purchaser"), and The Fortegra Group, Inc., a Delaware corporation and subsidiary of Tiptree ("Fortegra"). DB Insurance North America Merger Sub, Inc., a Delaware corporation and wholly owned subsidiary of Purchaser ("Merger Sub"), was subsequently incorporated in Delaware and, on April 8, 2026, executed a joinder to the Merger Agreement to become a party thereto. The Merger Agreement provides that Purchaser will acquire Fortegra for a purchase price of $1.65 billion in cash (subject to certain adjustments set forth in the Merger Agreement) by means of a merger of Merger Sub with and into Fortegra, with Fortegra surviving the Merger as a wholly owned subsidiary of Purchaser (the "Merger").
The Merger Agreement also provides that the parties will consummate the Merger on the last business day of the month in which all applicable conditions (other than those conditions that by their terms are to be satisfied at the closing, but subject to the satisfaction or waiver of those conditions at the closing) have been satisfied or waived. The parties expect to consummate the Merger on May 29, 2026, subject to the satisfaction of remaining customary closing conditions.
The information in this Item 7.01 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "1934 Act"), nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the 1934 Act.