ProSight to Acquire NYMAGIC in $230M Deal

ProSight Specialty Insurance, a portfolio company of TPG Capital and GS Capital Partners, has agreed to acquire insurance holding company NYMAGIC (NYSE: NYM) in a deal valued at $230 million. Prosight will pay NYMAGIC stockholders $25.75 per share of common stock, a 23.5% premium to the closing price the day prior to the announcement. The buy-side is being advised by Goldman Sachs and Weil, Gotshal & Manges, while NYMAGIC is being advised by Dewey & LeBoeuf.