State Farm Mutual Automobile Insurance Company entered into definitive agreement to acquire GAINSCO, Inc. (OTCPK:GANS) for approximately $400 million on September 16, 2020. Under the definitive merger agreement, State Farm Mutual will acquire all shares of GAINSCO at $107.38 per share in cash. Upon completion, GAINSCO will continue to operate as a separate company and brand with continued focus on its current objectives. The transaction is subject to approval by GAINSCO’s shareholders, the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, obtaining regulatory approvals and satisfaction of other customary closing conditions. As of October 26, 2020, early termination notices approved by Federal Trade Commission. The transaction is expected to close in early 2021. Barclays Capital Inc. acted as financial advisor and Mayer Brown LLP acted as legal advisor to State Farm Mutual. Sherman & Company Holdings LLC acted as financial adviser and L. Steven Leshin, Steven M. Haas, Robert J. McNamara, L. Scott Austin, Alan J. Marcuis and Kevin Hahm of Hunton Andrews Kurth LLP acted as legal advisors to GAINSCO.