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Capital Returns Welcomes ISS Recommendation for FBL Financial Shareholders to Vote AGAINST Merger


Capital Returns Welcomes ISS Recommendation for FBL Financial Shareholders to Vote AGAINST Merger
7Newswire
17 Apr 2021, 04:33 GMT+10
NEW YORK, Capital Returns Management, LLC (together with its affiliates, Capital Returns ), beneficial owner of 147,752 shares of Class A common stock of FBL Financial Group, Inc. ( FBL or the Company ) (NYSE: FFG), today issued the following statement welcoming the recommendation from leading proxy advisory firm Institutional Shareholder Services ( ISS ) that shareholders vote
AGAINST the proposed merger of FBL with Farm Bureau Financial Property & Casualty Insurance Company ( FBPCIC ):
We are pleased that ISS is recommending that shareholders vote against this deal. The proposed merger materially undervalues FBL and was the result of a flawed process rife with conflicts of interest. The $56 price is grossly inadequate and fails to reflect FBL s strategic importance to FBPCIC. Given the significant appreciation in life in ....

Capital Returns Management , Financial Group Inc , Institutional Shareholder Services , Farm Bureau Financial Property Casualty Insurance Company , Returns Management , Capital Returns , Farm Bureau Financial Property , Casualty Insurance Company , மூலதனம் வருமானம் மேலாண்மை , நிதி குழு இன்க் , நிறுவன பங்குதாரர் சேவைகள் , வருமானம் மேலாண்மை , மூலதனம் வருமானம் , விபத்து காப்பீடு நிறுவனம் ,

FBL, Farm Bureau P&C sweeten merger deal to $61 per share


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. “ ....

West Des Moines , United States , Financial Group , Capital Returns Management , Financial Group Inc , Iowa Farm Bureau Federation , Farm Bureau Property Casualty Insurance Co , Farm Bureau Property , Casualty Insurance , Richard Felts , Returns Management , West Des , மேற்கு தேஸ் மாய்ந்ஸ் , ஒன்றுபட்டது மாநிலங்களில் , நிதி குழு , மூலதனம் வருமானம் மேலாண்மை , நிதி குழு இன்க் , ஐயுவா பண்ணை பணியகம் கூட்டமைப்பு , பண்ணை பணியகம் ப்ராபர்டீ விபத்து காப்பீடு இணை , பண்ணை பணியகம் ப்ராபர்டீ , விபத்து காப்பீடு , ரிச்சர்ட் ஃபெல்ட்ஸ் , வருமானம் மேலாண்மை , மேற்கு தேஸ் ,