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Travelers Life & Annuity Co & MetLife Inc	Update Date: 01/23/09
Date Announced: 01/31/05
Value (million $USD): 11.69 billion U.S. Dollar

Status: Completed

TRANSACTION DETAILS
Date Announced	01/31/05
Date Originally Announced	01/31/05
Format	Acq. of Assets	Acquisition techniques	Divestiture
Attitude	Friendly	Agency	n/a
Value	11.69 billion U.S. Dollar	Advisor Fees	n/a

SYNOPSIS
US - MetLife Inc (MET) acquired Travelers Life & Annuity Co (TLA), a life insurance company, from Citigroup Inc, for $11.695 bil. The consideration was to consist of $10.8 bil in cash plus 22.4 mil common shares. The shares were valued based on MET's closing stock price of $39.5 on January 29, the last full trading day prior to announcement.

TARGET
Name	Travelers Life & Annuity Co
Industries	n/a
City	Hartford
State	CT
Nation	United States
Incorporated in	CT
Public Status	Private
Business Description	Life insurance company
Advisors	Citigroup
Target Sales	5.20 billion U.S. Dollar

ACQUIROR
Name	MetLife Inc (MET)
Industries	Accidental and health insurance; Fire, marine, and casualty insurance; Surety insurance
City	New York
State	NY
Nation	United States
Incorporated in	DE
Public Status	Public
Business Description	MetLife Inc, headquartered in New York, New York, provides insurance and other financial services. The company operates in five segments: Institutional, Individual, Auto and Home, International, and Reinsurance. The Institutional segment offers a range of group insurance and retirement and savings products, including group life insurance; non-medical health insurance, such as short and long-term disability, long-term care, and dental insurance; and other insurance products and services. The Individual segment offers protection and asset accumulation products, including life insurance, annuities, and mutual funds. The Auto and Home segment provides personal lines property and casualty insurance directly to employees at their employer's worksite, as well as to individuals through various retail distribution channels, including the agency distribution group, independent agents, property and casualty specialists. The International segment offers life, accident and health insurance, credit insurance, annuities, retirement and savings products to individuals and groups. The Reinsurance segment provides reinsurance of life and annuity policies. The company was founded in 1873.
Advisors	Banc of America Securities LLC; Goldman Sachs & Co
Acquiror Sales	40.87 billion U.S. Dollar

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