Japan’s Tokio Marine Holdings Inc. has acquired all outstanding shares of Philadelphia Consolidated. The acquisition, valued at approximately $4.7 billion, is considered the largest acquisition of a U.S. company by a Japanese financial firm.

Tokio Marine will pay $61.50 per share in cash through their wholly owned subsidiary, Tokio Marine & Nichido Fire Insurance Co. Ltd. The profits and losses of Philadelphia Consolidated will be consolidated into Tokio Marine’s financial statements from fiscal year 2009.

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