MetLife announced exchange offer for its shareholder for RGA
In concern with the announcement made in June by MetLife regarding its plan to split-off considerably all of its 52% interest in RGA the company announced today that its shareholders can swap all or some of their shares of MetLife common stock for shares of class B common stock of Reinsurance Group of America, Incorporated.
In this exchange offer the valuable shareholders will exchange their shares of MetLife common stock for shares of RGA class B common stock. In this exchange they will get discount of 10 percent to the per-share value of RGA class B common stock. For instance the kind shareholders will get approximately $1.11 of RGA class B common stock for each $1.00 of MetLife common stock in acknowledged in exchange offer. A limit of 1.3071 shares of RGA class B common stock is imposed for each share of MetLife common stock under the exchange offer.
Except any extension or termination the exchange offer will remain open till 2:00 midnight at the end of September 11, 2008
Maximum numbers of MetLife common stock shares that are acceptable in exchange offer will be calculated by dividing 29,243,539 with the final exchange ratio. Exchange offer prospectus includes all the relevant material conditions related to the exchange.
