State Auto Financial Cancels Second Quarter 2021 Earnings Conference Call
02 Août 2021 - 2:30PM
Business Wire
State Auto Financial Corporation (NASDAQ:STFC) today announced
the cancellation of its second quarter 2021 earnings conference
call scheduled for Thursday, Aug. 5, 2021, at 11 a.m. ET. The call
is being canceled due to the July 12, 2021, announcement that
Liberty Mutual Holding Company Inc., State Automobile Mutual
Insurance Company and STFC signed a definitive agreement pursuant
to which Liberty Mutual would acquire the State Auto Group.
STFC plans to release its second quarter 2021 results on Aug. 5,
2021, before the open of regular trading on the Nasdaq Stock
Market.
About State Auto Financial Corporation
State Auto Financial Corporation, headquartered in Columbus,
Ohio, is a super regional property and casualty insurance holding
company. STFC stock is traded on the NASDAQ Global Select Market,
which represents the top fourth of all NASDAQ listed companies.
The insurance subsidiaries of State Auto Financial Corporation
are part of the State Auto Group. The State Auto Group markets its
insurance products throughout the United States, through
independent insurance agencies, which include retail agencies and
wholesale brokers. The State Auto Group is rated A- (Excellent) by
the A.M. Best Company and includes State Automobile Mutual, State
Auto Property & Casualty, State Auto Ohio, State Auto
Wisconsin, Milbank, Meridian Security, Patrons Mutual, Rockhill
Insurance, Plaza Insurance, American Compensation and Bloomington
Compensation. Additional information on State Auto Financial
Corporation and the State Auto Insurance Companies can be found
online at http://www.StateAuto.com/STFC.
Cautionary Notice Regarding Forward Looking
Statements
Except for historical information, all other information in this
communication consists of forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements, and related oral statements State
Auto Financial Corporation (“STFC”) may make, are subject to risks
and uncertainties that could cause actual results to differ
materially from those projected, anticipated or implied. For
example, (1) conditions to the closing of the transactions may not
be satisfied; (2) regulatory approvals required for the
transactions may not be obtained, or required regulatory approvals
may delay the transactions or result in the imposition of
conditions that could have a material adverse effect on Liberty
Mutual Holding Company Inc.(“LMHC”), State Automobile Mutual
Insurance Company (“SAM”) or STFC or cause the parties to abandon
the transactions; (3) uncertainty as to the timing of completion of
the transactions; (4) the business of LMHC, SAM or STFC may suffer
as a result of uncertainty surrounding the transactions; (5) the
occurrence of any event, change or other circumstances that could
give rise to the termination of the merger agreement; (6) risks
related to disruption of management’s attention from the ongoing
business operations of LMHC, SAM or STFC due to the transactions;
(7) the effect of the announcement of the transactions on the
relationships of LMHC, SAM or STFC with its clients, operating
results and business generally; (8) the outcome of any legal
proceedings to the extent initiated against LMHC, SAM or STFC
following the announcement of the proposed transaction; and (9)
LMHC, SAM or STFC may be adversely affected by other economic,
business, and/or competitive factors as well as management’s
response to any of the aforementioned factors. The foregoing review
of important factors should not be construed as exhaustive and
should be read in conjunction with the other cautionary statements
that are included herein and elsewhere, including the risk factors
included in STFC’s most recent Annual Report on Form 10-K and
Quarterly Report on Form 10-Q and other documents of STFC on file
with the Securities Exchange Commission (“SEC”). STFC undertakes no
obligation to update or revise any forward-looking statements.
Additional Information and Where to Find It
In connection with the proposed transaction, STFC will file with
the SEC a proxy statement and may file or furnish other documents
with the SEC regarding the proposed transaction. This communication
is not a substitute for the proxy statement or any other document
that STFC may file with the SEC. The definitive proxy statement of
STFC will be mailed to the shareholders of STFC. INVESTORS IN AND
SECURITY HOLDERS OF STFC ARE URGED TO READ THE PROXY STATEMENT AND
ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED WITH OR FURNISHED TO OR
WILL BE FILED WITH OR WILL BE FURNISHED TO THE SEC, AS WELL AS ANY
AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN
THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT
INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS.
Investors and security holders may obtain free copies of the proxy
statement (when available) and other documents filed with or
furnished to the SEC by STFC through the web site maintained by the
SEC at www.sec.gov or by contacting STFC’s investor relations
department.
Participants in the Solicitation
STFC and its directors and executive officers and SAM may be
deemed to be participants in the solicitation of proxies from
STFC’s shareholders in connection with the proposed transaction.
Information regarding STFC’s directors and executive officers,
including a description of their direct interests, by security
holdings or otherwise, is contained in STFC’s Annual Report on Form
10-K for the year ended December 31, 2020 and its annual proxy
statement filed with the SEC on March 31, 2021. To the extent
holdings of STFC securities by directors or executive officers of
STFC have changed since the amounts contained in the annual proxy
statement filed with the SEC on March 31, 2021, such changes have
been or will be reflected on Statements of Change in Ownership on
Form 4 filed with the SEC. A more complete description will be
available in the proxy statement and other materials filed with or
furnished to the SEC in connection with the proposed transaction.
You may obtain free copies of these documents as described in the
preceding paragraph filed with or furnished to the SEC because they
will contain important information.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210802005219/en/
Investor contact: Natalie Schoolcraft,
Natalie.Schoolcraft@StateAuto.com, 614-917-4341 Media contact: Kyle
Anderson, Kyle.Anderson@StateAuto.com, 614-917-5497
State Auto Financial (NASDAQ:STFC)
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