Boston-based Liberty Mutual Group and Safeco Corp. in Seattle, apparently reacting to negative rumors, announced last night that Liberty Mutual's plan to acquire Safeco for $6.2 billion remains on track.
The insurance companies' statement said they had no intention, and specifically disclaim any obligation, to provide any update with respect to the matters addressed in their release, or to otherwise address any rumors in the market generally. In addition, both companies said their policies with respect to addressing market rumors remains in place.
Liberty Mutual “reaffirms its commitment to consummate its previously announced acquisition,” the statement said.
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