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July 21, 2010
Edwards Angell Palmer & Dodge represented IA American Life, a subsidiary of Industrial Alliance, in the all-cash acquisition of American-Amicable Holdings, Inc. and its four Texas-domiciled life insurance company subsidiaries, Pioneer Security Life Insurance Company, American-Amicable Life Insurance Company of Texas (AAT), Pioneer American Insurance Company and Occidental Life Insurance Company of North Carolina, from private equity funds managed by Thoma Cressey Bravo, Inc. and management of AAT. The merger agreement was signed on April 27, 2010, and the transaction closed on July 20, 2010 following receipt of insurance regulatory approvals from Georgia and Texas. The transaction was valued at $145.3 million.
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