Wednesday, April 23, 2008

Liberty Mutual To Buy Safeco


Liberty Mutual will buy Safeco Corp. for $6.12 billion in a deal to create the country's fifth-biggest property insurer.

Liberty Mutual, a privately owned insurer based in Boston, has offered $68.25 per share for Safeco, a 51 percent premium to yesterday's close.

Safeco, based in Seattle, sells $5.9 billion in insurance policies a year, while Liberty books annual premiums of more than $20 billion. - Boston Globe

Does this mean Safeco Field will become Liberty Mutual Field?

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