Insider View: Intact-OneBeacon

Those sorcerers of M&A White Mountains have done it
again.
Pentagrams have been drawn, incantations intoned and a spell
cast that has yielded a sale multiple that makes you wonder if
White Mountains' management has supernatural powers.
Canadian insurer Intact has agreed to acquire OneBeacon for
$1.7bn in cash at a rich 1.65x multiple.
The noise throughout the process almost from the get-go had been
that sell-side banker Credit Suisse had an uphill struggle on its
hands.
Shares in the...