Allstate to Acquire Rival Insurer National General for $4 Billion

U.S. insurance giant Allstate Corp. said it has agreed to acquire peer National General Holdings Corp. for about $4 billion in cash, expanding its reach in the personal property-liability business. Under the deal, shareholders of National General, a New York-based specialty personal-lines insurer, will receive a total of $34.50 a share, an offer that comprises $32.00 a share from Allstate and expected closing dividends of $2.50 a share, the companies said late Tuesday. The total offer represents a 69% premium to the stock’s…

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