NU Online News Service, Dec. 28, 11:43 a.m. EDT

Peoria, Ill.–based insurer RLI Corp. said that it will acquire Contractors Bonding Insurance Co. (CBIC) through an acquisition of its holding company, Data and Staff Service Co. (DSS) for approximately $137 million in cash.

The acquisition, announced last week, is subject to regulatory approval and expected to close in the first quarter of 2011.

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