State Auto Financial Corporation (STFC) Stock Skyrockets By +190.96%: What’s the Reason ?

After almost a year of stagnation, the stock of State Auto Financial Corporation blasted up trice with the opening of the market on July 12, 2021, reaching the price of $50.25. De facto the expansion makes up +190.96%! However, even though the price was multiplied by three, it is not fluctuating showing good stability as over the last year.

Liberty Mutual, a significant investor in the financial advisory space, announced earlier yesterday that it has decided to sign an agreement to acquire State Auto Financial for $52 per share, resulting in a massive increase in the stock price throughout the day.

The agreement has been endorsed by State Auto Financial’s executive committee, which is not shocking given the massive premium offered by Liberty Mutual. It must also be approved by State Auto’s representatives and stockholders; we can conclude the latter will eagerly vote in favor.

Paul Meyer

Part-Time Reporter. Paul could do better in his engineering profession where he became a real pro. However, he chose the finance field to find a tranquil environment in his career. Today he creates a good number of great content for our team.

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