Latham & Watkins Advises Lemonade in Acquisition of Metromile
Lemonade (NYSE: LMND), the insurance company powered by AI and social good, and Metromile (NASDAQ: MILE, MILEW), the data science company focused on auto insurance, have announced that they have entered into a definitive agreement pursuant to which Lemonade will acquire Metromile in an all-stock transaction that implies a fully diluted equity value of approximately US$500 million, or just over US$200 million net of cash.
Latham & Watkins LLP represents Lemonade in the transaction with a M&A team led by New York partner Robert Katz, with associates Sašo Kraner, Daley King, and Junhan Zhang. Advice was also provided on capital markets matters by New York partner Marc Jaffe and New York counsel Emily Corbi, with associate John Slater; on tax matters by Chicago partner Rene de Vera, with associate Christopher Ohlgart; on employment, benefits, and labor matters by New York counsel Rifka Singer, with associate Anne Bracaglia; and on antitrust matters by Washington, D.C. partner Farrell Malone, with associate Mary Casale.