Chubb Limited (NYSE:CB) made an unsolicited, non-binding proposal to acquire The Hartford Financial Services Group, Inc. (NYSE:HIG) for $25.3 billion on March 11, 2021. The proposal would value The Hartford at $65.00 per share. The consideration represents a mix of stock with the majority in cash. The Board of Directors of The Hartford Financial Services Group unanimously rejected Chubb Ltd.'s unsolicited proposal and determined that entering into discussions regarding a strategic transaction would not be in the best interests of the company and its shareholders. As of March 30, 2021, Chubb Limited made offers of over $67 per share to Hartford. On April 14, 2021, Chubb Limited made an offer of $70 per share which will be paid 60% in cash and 40% in stock. Goldman Sachs & Co. LLC and Deutsche Bank Aktiengesellschaft (XTRA:DBK) are acting as The Hartford's financial advisors. Cleary Gottlieb Steen & Hamilton LLP is acting as legal counsel to The Hartford.

Chubb Limited (NYSE:CB) cancelled the acquisition of The Hartford Financial Services Group, Inc. (NYSE:HIG) on April 22, 2021. The Hartford Board of Directors unanimously rejected the proposal, determining that entering into discussions regarding a strategic transaction would not be in the best interests of the company and its shareholders. As of April 28, 2021, Chubb Limited has ended it's efforts to acquire The Hartford, after submitting three failed offers in the past two months.