U.S. Markets closed

National Financial Partners to be acquired by Madison Dearborn for $25.35/share

National Financial Partners announced that it has entered into a definitive agreement with Madison Dearborn Partners, a private equity investment firm, under which a controlled affiliate of Madison Dearborn will acquire NFP. Under the terms of the agreement, NFP shareholders will receive $25.35 in cash for each share of NFP common stock they own, in a transaction with an equity value of approximately $1.3B, which includes the full value of the company's convertible debt. The purchase price represents a premium of approximately 26 percent over NFP's closing share price of $20.05 on March 12, 2013, the last day of trading prior to press reports that NFP was considering a possible sale of the company.