Liberty Mutual to Acquire Ironshore Inc.

Liberty Mutual Insurance has entered into a definitive agreement to acquire Ironshore Inc., a global specialty lines company, from Fosun International Ltd. The transaction is expected to close in the first half of 2017 pending regulatory approvals and customary closing conditions, the company said on Monday. Ironshore will continue to operate with the same management team and brand, but as part of the larger Liberty Mutual organization, which is focusing on growing its specialty lines operations. The purchase price will be 1.45 times Ironshore’s actual tangible book value as of ye...