Protective Life Snatches Up Torchmark Unit For $316M
The acquisition will add 15-20 cents per share to Protective's earnings in 2011 and 18-22 cents per share in 2012, the company said in announcing the deal.
According to Protective, the $316 million purchase price includes statutory capital and surplus of approximately $130 million.
The initial capital invested by Birmingham, Ala.-based Protective is projected...
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