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Sidley Represents National Western in Its US$1.9 Billion Acquisition by an Affiliate of Prosperity Life

Sidley is representing National Western Life Group, Inc. (NASDAQ: NWLI) in its US$1.9 billion all-cash acquisition by S. USA Life Insurance Company, Inc., an affiliate of Prosperity Life Group. The merger was approved by National Western’s board of directors and is expected to close in the first half of 2024. National Western Life was acquired by Robert Moody, Sr. in 1963. This is the second time in the last three years that Sidley has assisted with the sale of a publicly-traded insurance company associated with the Moody family. In 2021, the same Sidley team represented American National Life Group, Inc. in its US$5.1 billion sale to Brookfield Asset Management Reinsurance Partners Ltd.The Sidley team is being led by Mark Metts (M&A) and Amanda Todd (Insurance), and includes Alex Enion, Ayo Adaranijo, Katy Yu, Pardis Baha, and Amanda Ibrahim (M&A); Andrew R. Holland, Vincent S. Onorato, Michael L. Rosenfield, and Alexander E. Koster (Insurance); Jamie M. Sadler (Antitrust/Competition); Eric M. Winwood, Marian Fielding, and Akshay Soman (Employee Benefits and Executive Compensation); Heather M. Palmer (Environmental); Andrew W. Shoyer and Lauren Shapiro (Global Arbitration, Trade and Advocacy); Ram Burshtine and Shneur Wolvovsky (Global Finance); Teresa L. Reuter and Sara E Salmonson (Labor and Employment); Alan Charles Raul and Stephen W. McInerney (Privacy and Cybersecurity); John I. Sakhleh and Benjamin L. Nager (Securities Enforcement and Regulatory); Peter D. Edgerton, Nathan Enfield, and Jennifer Waclawik (Tax); Lauren G. Grau and Dina M.P. Kang (Technology and Life Sciences Transactions); Michael D. Mann (White Collar: Government Litigation and Investigations); and Michael Weinberg (Commercial Litigation and Disputes).

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