Liberty Mutual Group has arranged to acquire Ohio Casualty Corporation in a deal valued at $2.7 billion, the two insurance companies announced today.
Privately owned Boston-based Liberty Mutual said it has agreed to purchase all Ohio Casualty outstanding common stock shares for $44 per share in cash. The amount is a 32 percent premium over Friday's closing price of $33.32.
Ohio Casualty, which trades on the NASDAQ Exchange, in early trading today shot up to $43.17 a share.
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