Kirkland & Ellis represents Antarctica Capital, an international investment firm, which today announced it has entered into a definitive merger agreement whereby an affiliate of Antarctica will acquire Midwest Holding Inc. (NASDAQ: MDWT), a technology-driven life and annuity platform, in an all-cash transaction valued at approximately $100 million. Under the terms of the agreement, Midwest shareholders will receive $27.00 in cash per share, representing a 97% premium to the company’s closing share price on April 28, 2023, and a 75% premium over Midwest’s 30-day volume-weighted average price as of April 28, 2023.
The Kirkland team was led by corporate partners Lauren Colasacco, Rajab Abbassi and Michael Amalfe, along with associates Rebecca Roach, Asal Yunusov, Nick LaPietra and Kasondra West; capital markets partner Peter Seligson; insurance regulatory partner Parimah Hassouri and associate Sandra Ghobraiel; executive compensation partners Scott Price, John Kleinjan and Jabir Yusoff and associate Mei Wang; investment funds regulatory partner Michael Chu and associate Marisa Stern; debt finance partners Kathryn Leonard and Whitney Bosworth; and tax partners Benjamin Schreiner and Vivek Ratnam and associate Joseph Riddle.
