Allstate acquires National General for $4 billion in cash
By The Associated Press undefined
SILVER SPRING, Md. (AP) — Allstate is acquiring National General Holdings Corp. for $4 billion in cash as it expands its insurance portfolio. National General shareholders will get $32 per share from Allstate, plus closing dividends of about $2.50 per share, for a total of about $34.50 per share. National General’s board has already approved the deal, which is expected to close in early 2021. The New York-based insurer said that no fewer than 40% of its voting shares have also committed to approve the deal.