(Spring rhododendrons bloom in Portland’sJapanese Garden. Photo by David Cobb, Portland Japanese Garden.)
Meiji Yasuda Life Insurance Company (Tokyo) has completed its acquisition of StanCorp Financial Group, Inc. (Portland, Ore.), through its subsidiaries marketed as The Standard, on the terms of the previously announced Agreement and Plan of Merger dated July 23, 2015, among StanCorp, Meiji Yasuda and MYL Investments (Delaware) Inc., a wholly-owned subsidiary of Meiji Yasuda.
As a result of the merger, each outstanding share of common stock of StanCorp was converted into the right to receive $115.00 per share in cash, and StanCorp has become a wholly-owned subsidiary of Meiji Yasuda. StanCorp common stock has ceased trading and will be delisted from the New York Stock Exchange.