DFO Management and Sequence to acquire Baldwin Group for $7.7 billion
In Singapore, it was reported that DFO Management, owned by Dell Technologies founder and CEO Michael Dell, together with Sequence Holdings, will acquire insurance broker Baldwin Group and take it private. The deal is valued at $7.7 billion, Channel NewsAsia reports, citing Reuters.
Terms of the acquisition
Baldwin shareholders will receive $32.50 in cash for each share. This represents a premium of about 88% to the closing price on June 17, before media reports emerged about a possible deal. On Monday, the company’s shares rose 7.5% to $31.89.
Baldwin Group, whose market value was estimated at about $4.14 billion, provides businesses and private clients with risk management, insurance consulting and technology-enabled underwriting services.
More current news is available on the UA.News Telegram channel Telegram.
Investment in artificial intelligence
The companies said that going private is intended to give Baldwin greater flexibility to invest in artificial intelligence. DFO Management is Michael Dell’s investment vehicle. Reuters noted that operating outside the public market could allow management to focus on long-term investments without the pressure of quarterly reporting and fluctuations in share prices.
According to Baldwin CEO Trevor Baldwin, the partnership with DFO and Sequence is expected to provide the company with long-term capital and opportunities to develop artificial intelligence technologies. The deal is expected to close in the first quarter of 2027. Baldwin employees who meet specified conditions will be able to reinvest part of their shareholdings and retain a significant minority stake in the company after it goes private.
