Liberty Mutual Acquires State Auto Group
July 12, 2021
Liberty Mutual Holding Company has signed a definitive agreement to acquire State Auto Group, including the publicly traded State Auto Financial Corporation, for $52 per share. The deal expands Liberty Mutual's presence in the independent agent channel by adding roughly $2.3 billion of premium, ~3,400 independent agencies and ~2,000 associates, and is expected to close pending regulatory and shareholder approvals.
- Buyers
- Liberty Mutual Holding Company Inc.
- Targets
- State Auto Group, State Auto Financial Corporation
- Sellers
- Public shareholders of State Auto Financial Corporation
- Industry
- Insurance
- Location
- Ohio, United States
- Transaction Type
- Buyout
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