Scottish Re Group Ltd. shareholders will get a chance to weigh in on the company’s proposed financing plan Feb. 23 in Hamilton, Bermuda.
Scottish Re, Hamilton, has announced an extraordinary shareholder meeting for that day in a proxy mailed today.
Scottish Re shareholders will vote on whether to accept an agreement that calls for affiliates of Massachusetts Mutual Life Insurance Company, Springfield, Mass., and Cerberus Capital Management L.P., New York, to pay a total of $600 million in exchange for 69% of Scottish Re’s shareholder voting power.
Some shareholders have been urging Scottish Re to look for a better deal.