Skadden, McDermott Counsel Liberty Unit In $100M IPO

Law360, New York (May 10, 2010, 6:51 PM EDT) -- Liberty Mutual Group announced Monday that it was planning a $100 million initial public offering for its agency markets subsidiary, Liberty Mutual Agency Corp.

The offering will be underwritten by Citigroup Global Markets Inc. and Merrill Lynch Pierce Fenner & Smith Inc., which will also have the option to purchase stock as part of the offering, according to the prospectus filed with the U.S. Securities and Exchange Commission.

The $100 million figure is an estimate for registration purposes, according to the prospectus.

Liberty Mutual said it...
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