M&A - ALLSTATE CORP

Form Type: 8-K

Filing Date: 2025-01-30

Corporate Action: Acquisition

Type: New

Accession Number: 000089905125000003

Filing Summary: On January 30, 2025, The Allstate Corporation entered into a definitive Equity Purchase Agreement with Nationwide Life Insurance Company. Under this agreement, Nationwide will acquire all shares of Allstate's wholly owned indirect subsidiaries, Direct General Life Insurance Company and NSM Sales Corporation, as well as 100% of the membership interests in The Association Benefits Solution, LLC, which represent Allstate's group health business. The total consideration for the Transaction is $1.25 billion in cash, subject to adjustments based on the closing balance sheet. The completion of the Transaction is contingent upon obtaining regulatory approvals and fulfilling customary closing conditions.