BAT Industries said it arranged $3.2 billion...
- Share via
BAT Industries said it arranged $3.2 billion in financing for its proposed acquisition of Los Angeles’ Farmers Group by the British firm’s wholly owned U.S. subsidiary, BATUS. BAT offered $60 cash per share for the insurance holding company’s common stock, making a total price of about $4.2 billion. Farmers rejected the offer last month, but BATUS, based in Louisville, Ky., requested a meeting with the company to review the terms. The revolving credit facility involves banks in North America, the United Kingdom, Western Europe and Japan.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
