U.S. insurer Allstate Corp. (ALL) has agreed to acquire National General Holdings Corp.(NGHC) for about $4 billion in cash, or $34.50 per share.As part of the takeover deal National General shareholders will get $32 per share in cash and closing dividends of $2.50 per share. The $34.50 total value per share reflects a 69% premium to National General’s closing price on Tuesday. National General shares spiked 69% to $34.39 in Wednesday’s pre-market trading.Allstate will fund the share purchase by using $2.2 billion in combined cash resources and issuing $1.5 billion of new senior debt. The insurer said it will maintain …read more
Source:: Yahoo Finance
