Slaughter and May is advising Brit plc (Brit) on its recommended takeover offer by FFHL Group Ltd, an entity wholly-owned by Fairfax Financial Holdings Limited, announced on 17 February 2015. 
 
The cash offer values the entire issued share capital of Brit at approximately £1.22 billion and implies a price to net tangible assets multiple of 1.73x based on Brit's net tangible assets of £704.4 million as at 30 June 2014.

CONTACTS

Corporate: Jeff Twentyman (partner), Richard Smith (partner), Filippo de Falco (associate), Lomax Ward (associate) and Jamal Saleh (associate); Competition: Bertrand Louveaux (partner), William Turtle (associate), Tina Zhuo (associate); Employment: Jonathan Fenn (partner), Roland Doughty (partner), Rosemary Nelson (associate); Financial Regulation: Jan Putnis (partner), Nicholas Bonsall (associate)

Brit in-house legal team: led by Tim Hamer

Paul, Weiss, Rifkind, Wharton & Garrison: Mark Bergman (partner), John Satory (counsel)