HSR waiting period for Liberty Mutual Group and Safeco Corporation has expired
Wed. June 04, 2008; Posted: 07:28 AM
Jun 04, 2008 (M2 EQUITYBITES via COMTEX) --
SAF |
Quote |
Chart |
News |
PowerRating -- Safeco Corporation (NYSE:SAF), which provides property and casualty
insurance products and services, revealed yesterday (3 June) that the
waiting period under the Hart Scott Rodino Antitrust Improvements Act
of 1976, which satisfies a condition to the closing of Liberty Mutual
Group's proposed acquisition of the company, has expired.
The two companies have entered into a definitive agreement, as
previously announced, after which Liberty Mutual will acquire all
outstanding shares of the company's common stock for USD68.25 per share
in cash. The transaction is expected to close by the end of the third
quarter of 2008.
Liberty Mutual Group is a property and casualty insurer in the US. It
ranks 94th on the Fortune 500 list based on 2007 revenue. As of 31
December 2007, Liberty Mutual Group had USD94.742bn in consolidated
assets, USD82.376bn in consolidated liabilities and USD25.961bn in
annual consolidated revenue.
Comments on this story may be sent to admin@m2.com
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
