Benzinga | Jul 12, 2021 08:32AM EDT

State Auto Group To Be Acquired By Liberty Mutual Insurance For $52/Share In Cash

Liberty Mutual Holding Company Inc. ("Liberty Mutual"), State Automobile Mutual Insurance Company ("State Auto Mutual"), and State Auto Financial Corporation (NASDAQ:STFC) ("State Auto Financial") announced today that they have signed a definitive agreement pursuant to which Liberty Mutual would 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.