Zinnia, LLC entered into a stalking horse agreement to acquire North American Life and Annuity assets from Ebix, Inc. (NasdaqGS:EBIX) for $400 million on December 18, 2023. Under the terms of the asset purchase agreement, Zinnia will pay $400 million subject to certain purchase price adjustments, subject to Court approval. Ebix is represented by Sidley Austin LLP as legal counsel, AlixPartners, LLP as its financial advisor, and Jefferies LLC as its investment banker.