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Notable Mergers and Acquisitions of the Day 09/20: (MRH)/(SIGI) (DDD) (SAP)

September 20, 2011 11:23 AM EDT
  • Montpelier Re Holdings Ltd. (NYSE: MRH), reports entering into an agreement for the sale of Montpelier U.S. Insurance Company, the Company’s U.S. excess and surplus lines insurance business, to Selective Insurance Group, Inc. (Nasdaq: SIGI).

    Consideration for the transaction will reflect MUSIC’s net asset value at closing and will be payable in cash. Based on MUSIC’s net asset value at June 30, 2011, the transaction is valued at approximately $55 million and is expected to result in an increase to Montpelier’s current tangible book value per common share of approximately $0.24.

    The transaction, which is subject to regulatory approvals and certain customary closing conditions, is expected to close in Q411.

  • 3D Systems Corporation (NYSE: DDD) has completed a non-material acquisition of Formero Pty Ltd, an Australian based provider of on-demand custom parts services and 3D printing solutions.

    The registrant expects to continue to operate Formero as 3D Systems Asia-Pacific from its current location in Melbourne, Australia and to offer its expanded range of 3D content-to-print solutions for the benefit of design-to-manufacturing professionals and consumers.

  • SAP AG (NYSE: SAP) today announced its intent to acquire business-to-business (B2B) integration provider Crossgate.

    Crossgate is a leading provider of hosted B2B integration services, Crossgate enables companies to fully integrate and network with trading partners, clients and suppliers, allowing electronic data exchange with any business partner regardless of their technical capability.

    As a result of this acquisition, SAP will enable networking at the enterprise level, providing an easy way for trading partners to collaborate, share data and automate processes that link customers and suppliers for streamlined B2B e-commerce.
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