Ohio Casualty Acquired by Liberty Mutual
Boston, Mass. and Fairfield, Ohio – Liberty Mutual Group (“Liberty Mutual”) and Ohio Casualty Corporation (“Ohio Casualty”) (NASD: OCAS) announced that they have entered into a definitive agreement pursuant to which Liberty Mutual will acquire all outstanding shares of common stock of Ohio Casualty for $44.00 per share in cash. Ohio Casualty Corporation is the holding company of The Ohio Casualty Insurance Company and five other property and casualty insurance companies, which are referred to under the marketing brand Ohio Casualty Group. Ohio Casualty Group ranks 50th among property and casualty insurers based upon net premiums written (Best’s Review, July 2006), and sells personal, commercial and bond insurance products through independent agents and brokers.
The transaction is valued at approximately $2.7 billion.
source: http://www.libertymutual.com/
