The completion of the purchase has been announced for approximately $338 million. Progressive has announced that its $338 million acquisition of Protective Insurance Corporation is now complete. Protective is a workers’ compensation and trucking fleet insurer now owned by Progressive. The Protective Insurance acquisition was first announced in February. It involved a $23.30 per share cash buyout of Protective’s shareholders, without interest, for Class A and Class B common shares. That share price brought a 49.1 percent premium to Class A shareholders and a 63.2 percent premium to Class B…
Read MoreProtective insurance acquisition by Progressive closes
