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Healthcare

BRIEF-Allstate Says Agreed to Acquire Of National General

July 7 (Reuters) - Allstate Corp:

* ALLSTATE EXPANDS PERSONAL LINES MARKET POSITION WITH ACQUISITION OF NATIONAL GENERAL

* ALLSTATE CORP - AGREED TO ACQUIRE NATIONAL GENERAL HOLDINGS CORPORATION FOR APPROXIMATELY $4 BILLION IN CASH

* AGREED TO ACQUIRE NATIONAL GENERAL HOLDINGS CORPORATION FOR $34.50 PER SHARE

* WILL FUND SHARE PURCHASE BY DEPLOYING $2.2 BILLION IN COMBINED CASH RESOURCES, SUBJECT TO MARKET, ISSUING $1.5 BILLION OF NEW SENIOR DEBT

* EXPECTS TO MAINTAIN ITS CURRENT SHARE REPURCHASE PROGRAM.

* NATIONAL GENERAL’S BOARD OF DIRECTORS HAS APPROVED TRANSACTION

* NATIONAL GENERAL’S BOARD OF DIRECTORS APPROVAL INCLUDES A BREAKUP FEE OF $132.5 MILLION

* MSD CAPITAL, WHICH OWNS APPROXIMATELY 7.4% OF NATIONAL GENERAL’S OUTSTANDING COMMON SHARES, ALSO SUPPORTS TRANSACTION

* TRANSACTION WILL BE ACCRETIVE TO ADJUSTED NET INCOME EARNINGS PER SHARE AND RETURN ON EQUITY BEGINNING IN FIRST YEAR Source text for Eikon: Further company coverage:

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