This action stems from a proposed transaction announced on August 28, 2018 (the “Proposed Transaction”), pursuant to which Aspen Insurance Holdings Limited (“Aspen” or the “Company”) will be acquired by affiliates of Apollo Global Management, LLC (“Apollo”).
According to the Complaint, Aspen is a leading global specialty insurance and reinsurance company. The Company specializes in providing customized underwriting solutions to clients and brokers. Aspen reported assets of $13 billion at the year ended December 31, 2017 and has employees across nine countries.
On August 28, 2018, Aspen’s Board caused the Company to enter into the Merger Agreement.
Defendants filed a Proxy Statement with the SEC in connection with the Proposed Transaction. The Complaint alleges that the Proxy Statement, which scheduled a stockholder vote on the Proposed Transaction for December 10, 2018, omits material information with respect to the Proposed Transaction, which renders the Proxy Statement false and misleading.