Allstate (ALL) to Acquire Esurance, Answer Financial for $1B Total Consideration
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The Allstate Corporation (NYSE: ALL) today announced that it has entered into a definitive agreement with White Mountains Insurance Group, Ltd. (NYSE: WTM) in which Allstate will purchase Esurance and Answer Financial for $700 million plus the tangible book value of the entities acquired at close.
The total price is expected to be about $1 billion. The transaction is expected to close in the fall and is anticipated to be non-dilutive to Allstate's earnings in the second full year of ownership.
The total price is expected to be about $1 billion. The transaction is expected to close in the fall and is anticipated to be non-dilutive to Allstate's earnings in the second full year of ownership.
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