Company: TIPT
Filing Date: 2025-10-31
Form Type: DEFM14A
Source: 0001140361-25-039949
Chunk: 111

Company: TIPTREE INC.
Filing Date: 2025-10-31
Form: DEFM14A
Chunk 111
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 Merger or any other matter. The terms of the Merger were determined through arm’s-length negotiations between Fortegra, Tiptree, Warburg Pincus and Purchaser and were unanimously approved by the Fortegra Board. Barclays did not recommend any specific form of consideration to Fortegra or that any specific form of consideration constituted the only appropriate consideration for the Merger. Barclays was not requested to address, and its opinion does not in any manner address, Fortegra’s underlying business decision to proceed with or effect the Merger, the likelihood of the consummation of the Merger, or the relative merits of the Merger as compared to any other transaction in which Fortegra may engage. In addition, Barclays expressed no opinion on, and its opinion does not in any manner address, the fairness of the amount or the nature of any compensation to any officers, directors or employees of any parties to the Merger, or any class of such persons, relative to the aggregate consideration to be offered to the holders of Fortegra common stock in the Merger. No limitations were imposed by the Fortegra Board upon Barclays with respect to the investigations made or procedures followed by it in rendering its opinion. In arriving at its opinion, Barclays, among other things:

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TABLE OF CONTENTS

| • | reviewed and analyzed financial and operating information with respect to the business, operations and prospects of Fortegra furnished to Barclays by Fortegra, including the Fortegra Projections (as defined in this proxy statement), which are summarized in the section of this proxy statement entitled “Certain Unaudited Forecasted Financial Information” beginning on page63; |

| • | reviewed and analyzed a comparison of the historical financial results and present financial condition of Fortegra with those of other companies that Barclays deemed relevant; |

| • | reviewed and analyzed a comparison of the financial terms of the Merger with the financial terms of certain other recent transactions that Barclays deemed relevant; |

| • | reviewed and analyzed the results of Barclays and BofA Securities’ combined efforts to solicit indications of interest from third parties with respect to a sale of all or part of Fortegra; |

| • | had discussions with the management of Fortegra concerning its business, operations, assets, liabilities, financial condition and prospects; and |

| • | has undertaken such other studies, analyses and investigations as Barclays deemed appropriate. |

In arriving at its opinion, Barclays assumed and relied upon the accuracy and completeness of the financial and other information used by Barclays without any independent verification of such information (and had not