Las Vegas Sun

December 2, 2009

Currently: 61° | Complete forecast | Log in

U.S. financial firm to be sold

Monday, Sept. 29, 2003 | 11:07 a.m.

BOSTON -- Canada-based Manulife Financial Corp. will acquire John Hancock Financial Services Inc. in a $10.4 billion stock swap, obtaining a venerable U.S. financial services firm that has long been a civic and corporate pillar of Boston.

Under terms of the deal, shareholders of Boston-based John Hancock will receive 1.1853 shares of Manulife for each of their shares, or $37.60 per share, based on Hancock's Wednesday closing price.

The deal announced Sunday would create a company ranked fourth in the United States in individual life insurance sales. The combined company would be Canada's largest individual and group life insurer.

archive

  • Most Read
  • Discussed
  • Most E-mailed

Complete Listing

Calendar »

  • 2 Wed
  • 3 Thu
  • 4 Fri
  • 5 Sat
  • 6 Sun

All events on Wednesday »