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Tiptree Announces Shareholder Approval of Proposed Merger of Fortegra and DB Insurance
GREENWICH, Conn.--(BUSINESS WIRE)-- Tiptree Inc. (NASDAQ: TIPT) (the “Company” or “Tiptree”) today announced that, at the Company’s Special Meeting of
About this update from Tiptree Inc.
[{"type":"text","content":" GREENWICH, Conn.--(BUSINESS WIRE)--\nTiptree Inc. (NASDAQ: TIPT) (the “Company” or “Tiptree”) today announced that, at the Company’s Special Meeting of Shareholders (the “Special Meeting”), Tiptree shareholders approved the previously announced Agreement and Plan of Merger (the “Merger Agreement”) by and among Tiptree, The Fortegra Group, Inc. (“Fortegra”) and DB Insurance Co., Ltd. (“DB”), providing for the acquisition by DB of all of the outstanding stock of Fortegra in an all-cash deal by means of a merger of a wholly owned subsidiary of DB with and into Fortegra with Fortegra surviving as a wholly owned subsidiary of DB (the “Merger” and, such proposal, the “Merger Proposal”).\n\nAccording to the preliminary results, approximately 81% of votes cast at the Special Meeting by all shareholders were voted in favor of the Merger Proposal.\n\n“We appreciate the consideration and overwhelming support from our shareholders in approving the Merger Proposal,” said Michael G. Barnes, Executive Chairman of Tiptree. “This transaction represents a significant milestone in Tiptree’s 18 years of value-creation and we are committed to continuing our strong track record of creating long-term shareholder value.”\n\nTiptree still expects to close the Merger in mid-2026, subject to customary closing conditions, including the receipt of required regulatory approvals.\n\nThe final voting results of the Special Meeting will be reported in a Form 8-K filed by Tiptree with the U.S. Securities and Exchange Commission (the “SEC”).\n\nAbout Tiptree\n\nTiptree Inc. (NASDAQ: TIPT) allocates capital to select small and middle market companies with the mission of building long-term value. Established in 2007, Tiptree has a significant track record investing across a variety of industries and asset types, including the insurance, asset management, specialty finance, real estate and shipping sectors. With proprietary access and a flexible capital base, Tiptree seeks to uncover compelling investment opportunities and support management teams in unlocking the full value potential of their businesses. For more information, please visit tiptreeinc.com and follow us on LinkedIn.\n\nForward-Looking Statements\n\nThis communication contains “forward-looking statements” which involve risks, uncertainties and contingencies, many of which are beyond Tiptree's control,...