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Large investor opposes FBL Financial Group s bid to take company private

Large investor opposes FBL Financial Group’s bid to take company private Monday, March 8, 2021 2:59 PM One of FBL Financial Group’s largest shareholders, New York-based Capital Returns Management LLC, is contesting FBL’s proposed merger and buyout offer to take itself private, saying the share price it’s offering to its unaffiliated shareholders is “grossly inadequate and unfair.”   West Des Moines-based FBL Financial, which does business under its Farm Bureau brands, announced on Jan. 11 that it had reached a definitive agreement with its subsidiary Farm Bureau Property & Casualty Insurance Co. (FBPCIC) in which FBPCIC would acquire all of the outstanding shares of FBL Financial Group Class A and Class B common stock that neither FBPCIC nor the Iowa Farm Bureau Federation (IFBF) currently own for $56 per share in cash.

Stocks up in February; Iowa companies mostly positive

Stocks up in February; Iowa companies mostly positive Wednesday, March 3, 2021 2:43 PM Thirteen of the 18 Iowa-based companies on the Business Record s Iowa Index posted stock price gains for the month of February. Six companies posted double-digit percentage gains. Five Iowa-based stocks posted losses, with four being single-digit percentage losses. Lee Enterprises Inc. had the largest gain of the month with a 55.00% increase. Lee Enterprises reported strong first-quarter results at the beginning of February. Principal Financial Group Inc. had the second-biggest gain at 14.84%. Meredith Corp. had the third-biggest with a 13.00% increase. Renewable Energy Group Inc. had the biggest loss for February at 13.20%. REG had the largest gain the previous month. American Equity Investment Life Holding posted the second-biggest loss at 5.34%. Ames National Corp. was third with a 4.26% decrease.

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