Leucadia National Corp. is set to buy struggling insurer Reliance Group Holdings Inc. in a stock swap valued at $293 million.
The deal will result in Reliance stockholders receiving roughly 0.11 share of Leucadia common stock for each Reliance share. The transaction is expected to be tax-free to Reliance stock holders.
Topics Mergers & Acquisitions
Was this article valuable?
Here are more articles you may enjoy.
AI Savings Misses ‘Should Be Making Executives Uncomfortable,’ Bain Says 
JPMorgan Banker Sues Ex-Colleague Over ‘Fabricated’ Sex Claims 
OpenAI’s Altman Says AI Unlikely to Lead to ‘Jobs Apocalypse’ 
Insurance Mogul Lindberg Gets 12 Years for $2 Billion Fraud 
