Liberty Mutual to Acquire State Auto Group
July 12, 2021
Liberty Mutual Holding Company, State Automobile Mutual Insurance Company, and State Auto Financial announced they have signed a definitive agreement to acquire State Auto Group, a super-regional property and casualty insurance holding company headquartered in Columbus, Ohio. The deal includes Liberty Mutual’s purchase of all publicly held shares of State Auto Financial for $52 per share in cash and is expected to close in 2022, subject to approvals and customary closing conditions.
- Buyers
- Liberty Mutual Holding Company Inc., State Automobile Mutual Insurance Company, Liberty Auto Financial Corporation
- Targets
- State Auto Group, State Auto Financial Corporation
- Sellers
- State Automobile Mutual Insurance Company members (mutual members)
- Industry
- Insurance
- Location
- Ohio, United States
- Transaction Type
- Buyout
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