Progressive Expands Commercial Lines Products with Acquisition of Protective Insurance
Leader in Commercial Auto Insurance Seeks to Expand Capabilities
Protective Shareholders to Receive $23.30 Per Share in Cash
$PGR and $PTVCB today announced that they have entered into a definitive agreement under which Progressive has agreed to acquire all of the outstanding Class A and Class B common shares of Protective for $23.30 per share in cash, for a total transaction value of approximately $338 million.
The acquisition is expected to close prior to the end of the third quarter of 2021.
This move allows us to add products that will help us support larger fleets and brings expertise in workers’ compensation coverage for the transportation industry, which are new areas of business for us and can help us to meet the needs of our commercial customers.
finance.yahoo.com/ne...ducts-120000017.html
Leader in Commercial Auto Insurance Seeks to Expand Capabilities
Protective Shareholders to Receive $23.30 Per Share in Cash
$PGR and $PTVCB today announced that they have entered into a definitive agreement under which Progressive has agreed to acquire all of the outstanding Class A and Class B common shares of Protective for $23.30 per share in cash, for a total transaction value of approximately $338 million.
The acquisition is expected to close prior to the end of the third quarter of 2021.
This move allows us to add products that will help us support larger fleets and brings expertise in workers’ compensation coverage for the transportation industry, which are new areas of business for us and can help us to meet the needs of our commercial customers.
finance.yahoo.com/ne...ducts-120000017.html