WTM - White Mountains Insurance commences tender offer for MediaAlpha shares

2023-05-26 08:58:58 ET

• White Mountains Insurance Group ( NYSE: WTM ) said on Friday that it has commenced a cash tender offer for up to 5M class A shares of MediaAlpha ( NYSE: MAX ).
• The tender offer will see White Mountains purchase the shares at $10.00 per share.
• WTM said the purchases are made only because the shares represent an attractive investment, and are not intended for acquiring or influencing control of MAX.
• The offer will expire at one minute following 11:59 PM New York City time on Monday, June 26.
• The offer is conditioned on a minimum number of 2.5M shares being properly tendered.
• MAX shares were trading ~30% higher pre-market
• Source: Press Release

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