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FBL, Farm Bureau P&C sweeten merger deal to $61 per share Monday, May 3, 2021 11:06 AM Farm Bureau Property & Casualty Insurance Co. and FBL Financial Group, Inc. today announced that they have agreed to amend their previously announced definitive merger agreement, sweetening the deal for unaffiliated shareholders by another $47 million. The companies said they would now offer $61 per share in cash for shares that aren’t already owned by FBPCIC or Iowa Farm Bureau Federation, an increase from the $56 per share under the definitive agreement dated Jan. 11. The amendment was approved by the boards of both FBPCIC and FBL Financial Group. The revised offer represents an increase of 8.9% and 63.8%, respectively, over the previously agreed offer price of $56 per share and FBL Financial Group’s unaffected closing share price of $37.25 on Sept. 3, 2020. The aggregate purchase price under the amended agreement now stands at about $575 million. “The revis

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