The period during which federal officials might raise antitrust concerns over Liberty Mutual Group’s proposed acquisition of Safeco Corp. has expired.
The expiration of the waiting period under the Hart Scott Rodino Antitrust Improvements Act of 1976 satisfies a condition to the closing of the proposed acquisition.
As announced on April 23, 2008, Liberty Mutual has proposed buying all outstanding shares of common stock of Safeco for $68.25 per share in cash. The transaction is expected to close by the end of the third quarter of 2008.
Source: Liberty Mutual
Was this article valuable?
Here are more articles you may enjoy.
Insurance Regulators, Trades Get Behind Latest Effort to Abolish FIO 
Thumbs Down on SELF DRIVE Act as Written, Says Industry Trades 
Warburg Mulls $1 Billion Sale of London Insurance Broker McGill 
Zurich Makes £7.7 Billion Bid for Specialty Insurer Beazley 
