Safety Insurance Group Inc. (NASDAQ:SAFT) shares jumped 37.58% to $100.35 in after-hours trading on Thursday after the Massachusetts-based insurer announced a definitive agreement to be acquired by an affiliate of Mapfre S.A.
According to Safety Insurance Group, it’s an all-cash deal valued at approximately $1.54 billion.
The announcement was made after the markets closed on Thursday, with SAFT closing at $72.94, up 0.61% in the regular session, according to Benzinga Pro data.
Shareholders to Receive 44% Premium
Under the agreement, Safety shareholders will receive $105 per share in cash, a 44% premium over the stock’s Thursday closing price.
