July 8, 2020 / 2:20 AM / a month ago

Insurer Allstate to buy National General for about $4 bln

July 7 (Reuters) - Allstate Corp said on Tuesday it will buy National General Holdings Corp for about $4 billion in cash as the insurer looks to expand its market share in personal lines insurance business.

National General's shareholders will receive $32 per share in cash and closing dividends of $2.50 per share for each share held, representing a premium of about 69% to its Tuesday's close.

Reporting by Shubham Kalia in Bengaluru, Editing by Sherry Jacob-Phillips

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