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Nationwide acquires Harleysville for $1.63 b

Last Updated : 29 September 2011, 17:50 IST
Last Updated : 29 September 2011, 17:50 IST

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Nationwide, one of largest home and auto insurers, will pay $60 a share in cash for Harleysville, nearly a 100 per cent premium to the stock’s Wednesday close and nearly 140 per cent premium to the stock’s price.

Harleysville Mutual policyholders will become customers of Nationwide Mutual. The Harleysville brand will continue to exist after the deal closes. Closing is expected in early 2012.

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Published 29 September 2011, 17:50 IST

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