Intact snags OneBeacon in $1.7bn deal

Canada's largest property and casualty carrier Intact
Financial has sealed a deal to acquire OneBeacon from White
Mountains for $1.7bn.
The $18.10 per share bid represents a 1.65x multiple on
OneBeacon's book value per share when markets closed on 31
March.
It is also a 15 percent uplift on the insurer's $15.70
closing share price today in New York.
If the deal goes ahead, it will create a North American
specialty insurer that will generate more than $1.5bn in annual...