Spanish insurer Mapfre agrees to buy Commerce Group
NEW YORK (Reuters) - Spanish insurer Mapfre SA (MAP.MC: Quote, Profile, Research, Stock Buzz) on Tuesday said it agreed to buy The Commerce Group Inc CGI.N for $2.21 billion as an entry point into the U.S. insurance market.
Mapfre said it will pay about $36.70 in cash for each Commerce Group share.
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