Old Guard Selling To Westfield.(Old Guard Insurance Group Inc.;)(Westfield Companies)(Brief Article)(Statistical Data Included)

National Underwriter Property & Casualty-Risk & Benefits Management, May, 2000

Old Guard Insurance Group, Inc. of Lancaster, Pa., announced that it signed a definitive agreement to be acquired by Ohio Farmers Insurance Company, a member of the Westfield Companies in Westfield Center, Ohio, in a deal valued at roughly $45 million. Terms of the deal call for shareholders of Old Guard to receive $12 in cash for each share of Old Guard common stock that they own.

The transaction is subject to regulatory and shareholder approvals. When the transaction is complete, Westfield Companies will have approximately $1 billion in written premiums in 19 states and will be a significant insurer of agribusiness. Old Guard fought a difficult battle to convert from a mutual to a public stock company in 1997, when lawsuits contesting the...

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