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Summit Holding Southeast Inc

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July 1, 1998 | Bloomberg News
Liberty Mutual Group, the eighth-largest U.S. property casualty insurer, agreed to buy Summit Holding Southeast Inc. for $222.4 million, building its workers' compensation insurance business in Florida. Summit, based in Lakeland, Fla., will add its 7% share of the Florida workers' compensation market to Liberty Mutual, the largest U.S. provider of such coverage. The transaction will give Summit's owners $33 for each of their 5.8 million shares, while redeeming Summit's 1.
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BUSINESS
July 1, 1998 | Bloomberg News
Liberty Mutual Group, the eighth-largest U.S. property casualty insurer, agreed to buy Summit Holding Southeast Inc. for $222.4 million, building its workers' compensation insurance business in Florida. Summit, based in Lakeland, Fla., will add its 7% share of the Florida workers' compensation market to Liberty Mutual, the largest U.S. provider of such coverage. The transaction will give Summit's owners $33 for each of their 5.8 million shares, while redeeming Summit's 1.
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