8-KOther Events

Chubb Ltd 8-K Report, Corporate Update (Oct 1, 2015)

Filed October 1, 2015For Securities:CB

Summary

This 8-K filing from ACE Limited (now Chubb Ltd) on September 30, 2015, announces a significant development in its pending acquisition of The Chubb Corporation. The U.S. Federal Trade Commission (FTC) has granted early termination of the waiting period under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act of 1976. This is a crucial step, as it signifies that antitrust regulators have cleared the transaction, removing a major hurdle to closing. While this antitrust approval is a positive milestone, investors should note that the acquisition is still contingent upon other customary closing conditions. These include obtaining the necessary shareholder approvals from both ACE and Chubb, as well as other regulatory clearances. The filing also provides important information for shareholders regarding the solicitation of proxies, directing them to review the joint proxy statement/prospectus filed with the SEC for comprehensive details about the transaction.

Key Highlights

  • 1FTC grants early termination of HSR Act waiting period for ACE's acquisition of Chubb.
  • 2Antitrust clearance removes a significant regulatory obstacle to the transaction.
  • 3The acquisition remains subject to other customary closing conditions, including shareholder and regulatory approvals.
  • 4ACE Limited (the registrant) is the entity filing this report regarding the acquisition of The Chubb Corporation.
  • 5Filing includes important disclosures for shareholders regarding the solicitation of proxies and where to find additional information.
  • 6The early termination was effective immediately as of the notification date.

Frequently Asked Questions

The main purpose of this filing is to inform investors that the U.S. Federal Trade Commission (FTC) has granted early termination of the antitrust waiting period under the Hart-Scott-Rodino (HSR) Act for ACE Limited's acquisition of The Chubb Corporation. This means antitrust regulators have approved the transaction.

No, this filing indicates a significant step towards completion, but the acquisition is not yet complete. It is still subject to other customary closing conditions, including shareholder approval from both companies and other regulatory approvals.

Investors are urged to read the joint proxy statement/prospectus filed with the SEC, which contains important information about the proposed transaction. Copies can be obtained free of charge from the SEC's website or the respective websites of ACE and Chubb.

ACE Limited is the acquiring company in this transaction and is the registrant of this Form 8-K filing. Following the acquisition, the combined company is intended to operate under the Chubb name.