Rating agencies are evaluating yesterday's announcement that Nationwide Mutual Insurance Company has offered to take Nationwide Financial Services private by purchasing all its listed shares for $2.2 billion.
Columbus, Ohio-based NFS said it has appointed a special committee to respond to the offer of $47.20 per share for 46.7 million shares of the company's Class "A" common stock.
Nationwide Mutual already owns all Class "B" common shares, representing a 66.3 percent ownership in NFS and 95.2 percent of the combined voting power of the shareholders of NFS.
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