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CNA Financial completes acquisition of CNA Surety


June 20, 2011   by Canadian Underwriter


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CNA Financial Corporation has completed its acquisition of CNA Surety.
CNA Surety is now a wholly owned indirect subsidiary of CNA Financial.
CNA Financial and CNA Surety announced a merger agreement on Apr. 21, 2011. Under the terms of the merger, CNA Financial would purchase the shares of CNA Surety not already owned by CNA Financial and its subsidiaries.
CNA Financial commenced a tender offer on May 11, 2011 to acquire all of the outstanding shares of common stock of CNA Surety not owned by CNA Financial or its subsidiaries.
On June 10, 2011, Surety Acquisition Corporation was merged with and into CNA Surety in accordance with the merger agreement.


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