Meridian Insurance Group will be purchased by State Auto Financial Corp. of Columbus, Ohio. The company will pay $30 a share, or more than $228 million, to buy the large Indiana insurer.
The deal brings to an end the bitter takeover battle by Gregory Shepard. State Auto plans to maintain Meridian’s offices, which house 500 employees.
Topics Auto
Was this article valuable?
Here are more articles you may enjoy.
Insurers Are ‘Actively Evaluating’ New Catastrophe Risks as Europe Burns 
Viewpoint: Who Gets Credit for Successful Renewal During Soft Reinsurance Market? 
American Family to Acquire Bowhead Specialty in $1.2B Cash Deal 
Former Insurance Agent Sentenced to Jail for Fraud, Again From This Issue
