Davis Polk is advising J.P. Morgan Securities LLC as financial adviser to CNA Financial Corporation (CNA) in connection with its acquisition of all of the outstanding shares of common stock of CNA Surety Corporation (CNA Surety) not currently owned by CNA for $26.55 per share in cash. It is currently anticipated that the transaction will be completed by the end of the second quarter.

Serving businesses and professionals since 1897, CNA is the country’s seventh-largest commercial insurance writer and the 13th-largest property and casualty company. CNA Surety is the largest publicly traded surety company in the country.

The Davis Polk corporate team includes partners Phillip R. Mills and William L. Taylor and associate Alexander N. Macleod, all of the New York office.