State Auto Financial Announces Results of Voting at Special Meeting of Shareholders
30 Septembre 2021 - 2:30PM
Business Wire
Shareholders overwhelmingly approve the proposed merger
State Auto Financial Corporation (NASDAQ:STFC) today announced
the results of shareholder voting on its proposed merger agreement
with Liberty Mutual Holding Company Inc. (LMHC).
STFC shareholders voted overwhelmingly to adopt the proposed
merger agreement with 99.5% of shares voted (including abstentions)
in favor of the proposal to adopt the merger agreement.
The deal is expected to close in 2022, pending State Automobile
Mutual Insurance Company member approval, receipt of required
regulatory approvals and other customary closing conditions.
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
Insurance Company, State Auto Property & Casualty Insurance
Company, State Auto Insurance Company of Ohio, State Auto Insurance
Company of Wisconsin, Milbank Insurance Company, Meridian Security
Insurance Company, Patrons Mutual Insurance Company of Connecticut,
Rockhill Insurance Company, Plaza Insurance Company, American
Compensation Insurance Company and Bloomington Compensation
Insurance Company. Additional information on State Auto Financial
Corporation and State Auto Group 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
press release 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, STFC’s
most recent Quarterly Report on Form 10-Q, the definitive proxy
statement filed by STFC with the Securities Exchange Commission
(the “SEC”) on August 27, 2021, and other documents of STFC on file
with the SEC. STFC undertakes no obligation to update or revise any
forward-looking statements.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210930005165/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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