Corporate Press Release Format, Example, & Template
Corporate Press Release Format
(Name of the company) announced today (introduction of the merger)
About the company (introduction of the company) (specialization of the company) (location of the headquarters of the company)
The completion of the investment (relationship of both the companies)
Under the terms (terms and conditions of the merger). The agreement (consent of the board of directors). The transaction is expected to close (decide year of the closure).
According to the terms (terms and conditions of the closure). The cash consideration (funding of the cash and approval). In addition (agreement from the opposite company). Closing price (the closing amount of the merger).
The shares (value of the shares). (Name of the CEO)(Words of the CEO regarding the merger). The transaction (will increase the advantages of the transaction). (Name of the financial advisor)(Name of the panel of authorities after the merger)
Conference call and webcast (date of the conference call). A live webcast (link to the official website).
Corporate Press Release Template
The following press release example shows how to write a Corporate Press Release:
Title
Arizona Holdings LTD. To acquire Millennium Marine Re in $1.5 Billion Transaction
Body
(Arizona Holdings LTD.) Announced today that it has entered into a definite agreement with Tokio Marine Holdings. Renaissance Re will acquire Marine’s reinsurance platform which includes Tokio Millennium Re AG and Tokio Millennium Re (UK) LTD.
About Renaissance Re
(Arizona Re is a global provider of reinsurance and insurance as it specializes in matching the well-structured risks with efficient sources of capital). (The company provides specialty, casualty and property reinsurance and certain insurance solution to customers principally through intermediaries). (Established in 1993, the company has offices in Bermuda, Ireland, Switzerland, United Kingdom, and United State. For more than 50 years, the company has rooted its strength deeply in the corporate world).
The merger will increase the interest of big and small companies. Following the completion of (its investment STATE FARM will own approximately 4.8%of Renaissance Re’s total common shares reflecting a broader relationship with Arizona that includes the investment of both the companies).
Under the terms ( of the transaction Marine will receive 1.02x the tangible book value of TMR delivered to Arizona Re at closing). The agreement has (been unanimously approved by the Boards of Directors of both companies). The transaction is expected to close (in the first month of 2019 and is subject to customary closing conditions and regulatory approvals)
According to the terms (of the agreement, if closing tangible book value is unchanged from June 30, 2018, the transaction consideration (would consist of approximately $1.22 billion of cash and $250 million of Renaissance Re common shares). The cash consideration (will be funded through Renaissance Re available funds and a potential pre-closing dividend from TMR, subject to regulatory approval)
In addition, (State Farm mutual automobile insurance company has agreed to invest $250 million in Arizona Re through the purchase of its common shares). The shares purchased by State Farm will be valued at today’s closing price $128.37 per common share.
(Melvin O’Donnell), president and CEO of Renaissance Re commented (“We are pleased to have entered into a definitive agreement to acquire Millennium Re. Our unique ability to capitalize on large, one-of-a-kind opportunities underscores our global reinsurance leadership and our ability to execute on our successful highly differentiated strategy”).
Mr. Donnell added (“We are honored that State Farm has agreed to broaden the relationship with Renaissance by investing in our common shares and establishing a long-standing partnership). (I am confident that this merger will be equally beneficial to our shareholders. After the closure, we anticipate that we will continue to have a strong capital and liquidity position).
The transaction (will increase their scale, broaden the reach and will extend their ability to apply core strengths to a deeper customer case).
(Mr. Stuart Merill Lynch is acting as financial advisor whereas Robert Watch, Lipton and Rosely and Katz are acting as legal ARIZONA Re Board of Directors in connection with the transaction).
Conference call and webcast
(Arizona Re will discuss this transaction as a part of its regularly scheduled investment community conference call on Wednesday, October 31st)).In addition, interested persons may access a slide presentation regarding the transaction which will be available from approximately 7:00 a.m. A live webcast (of the conference call via the investors’ section of Renaissance Re can be accessed at www.renre.com). An archive of the call will be available from approximately 2:00 p.m. on October 31st through midnight.
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