It turns out there was another player in last year’s merger deal between Nationwide Mutual Insurance Co. and Harleysville Mutual Insurance Co.
According to a news report, Liberty Mutual also made an offer last September to buy Harleysville but was rejected in favor of Nationwide.
Bloomberg reported last week that Liberty Mutual had offered $42 a share for stockholders of Harleysville Group, which was lower than Nationwide’s offer of $60-per-share. Still, the Liberty Mutual offer had something that Nationwide didn’t: an incentive to policyholders in the form of a $250 million payout.
These details were included in Harleysville’s Securities and Exchange Commission filing last month. The riv
Tags: Liberty Mutual, Mutual