Addition of super-regional insurer is anticipated to make Liberty 2nd-largest independent agency carrier in U.S.
Liberty Mutual Holding Company Inc., State Automobile Mutual Insurance Company and State Auto Financial Corporation (NASDAQ: STFC) announced today that they have signed a definitive agreement for Liberty Mutual to acquire State Auto Group, a super-regional insurance holding company headquartered in Columbus, Ohio. Under the terms of the agreement, State Auto mutual members will become mutual members of Liberty Mutual and Liberty Mutual will acquire all of the publicly held shares of common stock of State Auto Financial for $52 per share in cash.
The
Subscribers need to be logged in to see rest of this article. Please Login to access. If you're not a subscriber, click here for information on our satisfaction guaranteed subscription options.