American National Insurance Co. has received a nod from the New York State Insurance Department to acquire Farm Family Holdings. With this approval, the companies have received all of the approvals they need to complete the transaction.
The closing is scheduled for April 10. Under the terms of a definitive merger agreement, American National will acquire Farm Family at a price of $44 per share for Farm Family’s common stock and $35.72 per share for Farm Family’s Series A Preferred Stock in cash.
The consideration to be paid to the holders of the Series A Preferred Stock will also include any accrued and unpaid dividends to the closing date.
Was this article valuable?
Here are more articles you may enjoy.
Musk’s Boring Co. Working on Tunnel to Link Austin and San Antonio 
Here Are Some AI Doomsday Scenarios Researchers Say Could Put Humanity at Risk 
A-Cap Insurers File Suit Against SCDOI Director; AM Best Downgrades Group 
Florida’s Private Railroad, Brightline, Files for Bankruptcy 
