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BRIEF-Biglari Holdings to buy Pacific Specialty Insurance Co

May 25 Biglari Holdings Inc

* Biglari holdings inc. To acquire pacific specialty insurance company

* Biglari holdings inc - deal for purchase price of $299.5 million

* Deal consisting of $24 million in cash payable at closing of transaction and $275.5 million of deferred payments

* Biglari holdings inc - ‍pacific specialty and its affiliated agency will operate independently of biglari holdings' other insurance operations​

* Biglari holdings inc- ownership change will not have an impact on day-to-day operations

* Biglari holdings- $175.5 million is payable in cash over 10-year period, $100 million is payable by promissory note that matures upon death of michael mcgraw Source text for Eikon: Further company coverage:

我们的标准: 汤森路透“信任原则

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