RTTNews | Jul 12, 2021 10:08AM EDT

10:07 Monday, July 12, 2021 (RTTNews.com) - Shares of State Auto Financial Corporation (STFC) are spiking more than 180% Monday morning on the news of it being bought by Liberty Mutual Holding Company Inc.

As per the deal, Liberty Mutual will acquire all the common stock of State Auto Group for $52 per share in cash, about 200% premium to the closing price of the State Auto stock on Friday.

Liberty Mutual expects the deal to add $2.3 billion in premium and State Auto's network of nearly 3,400 independent agencies across 33 states.

STFC is currently at $50.00.

Read the original article on RTTNews ( https://www.rttnews.com/3208412/state-auto-financial-corporation-zooms-on-news-of-liberty-mutual-acquiring-it.aspx)

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