F&G in $1.8bn buyout led by CF Corp

A group of investors led by CF Corporation have agreed to buy
Fidelity & Guaranty Life (FGL) from HRG Group for about $1.84bn
in cash and the assumption of $405mn in debt.
CF Corporation is a listed investment vehicle formed for the
purpose of making acquisitions.
The deal, which includes $31.10 per share in cash, implies a
valuation for the life insurer of 1.1x adjusted book value as of 31
March.
CF plans to acquire about half of FGL's equity....