M&A
confidence high
sentiment neutral
materiality 1.00
Safety Insurance to be acquired by MAPFRE U.S.A. for $105.00 per share in cash
SAFETY INSURANCE GROUP INC
- All-cash merger at $105.00 per share; board unanimously recommends stockholder approval.
- Deal subject to stockholder vote, HSR clearance, and Massachusetts Insurance Commissioner approval.
- Directors and executive officers entered into voting agreements to vote shares in favor.
- Termination fees: $46.2M from Safety under certain conditions; $111.8M from MAPFRE.
- Equity financing committed by MAPFRE, S.A.; financing not a condition to closing.