Home Meeting notice State Auto Financial Announces Voting Results at Special Meeting of Shareholders

State Auto Financial Announces Voting Results at Special Meeting of Shareholders

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Shareholders overwhelmingly approve of the merger project

COLUMBUS, Ohio, September 30, 2021– (COMMERCIAL THREAD) – State Auto Financial Corporation (NASDAQ: STFC) today announced the results of the shareholder vote on its proposed merger agreement with Liberty Mutual Holding Company Inc. (LMHC).

STFC shareholders voted overwhelmingly for the adoption of the proposed merger agreement with 99.5% of the shares (including abstentions) in favor of the proposed adoption of the merger agreement.

The deal is expected to close in 2022, pending approval by members of State Automobile Mutual Insurance Company, receipt of required regulatory approvals and other customary closing conditions.

About State Auto Financial Corporation

State Auto Financial Corporation, headquartered in Columbus, Ohio, is a super regional property and casualty insurance holding company. STFC stock is traded on the NASDAQ Global Select Market, which represents the top quarter of all companies listed on NASDAQ.

State Auto Financial Corporation’s insurance subsidiaries are part of the State Auto Group. The State Auto Group markets its insurance products throughout the United States, through independent insurance agencies, which include retail agencies and wholesale brokers. The State Auto Group is rated A- (Excellent) by AM Best Company and includes State Automobile Mutual Insurance Company, State Auto Property & Casualty Insurance Company, State Auto Insurance Company of Ohio, State Auto Insurance Company of Wisconsin, Milbank Insurance Company, Meridian Security Insurance Company, Patrons Mutual Insurance Company of Connecticut, Rockhill Insurance Company, Plaza Insurance Company, American Compensation Insurance Company, and Bloomington Compensation Insurance Company. Additional information about State Auto Financial Corporation and State Auto Group is available online at http://www.StateAuto.com/STFC.

Caution Regarding Forward-Looking Statements

Except for historical information, all other information contained in this press release consists of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements and related oral statements of State Auto Financial Corporation (“ STFC ”) may do, are subject to risks and uncertainties which could cause actual results to differ materially from those projected, anticipated or implied. For example, (1) the conditions for closing transactions may not be met; (2) regulatory approvals required for transactions may not be obtained, or required regulatory approvals may delay transactions or result in the imposition of conditions which could have a material adverse effect on Liberty Mutual Holding Company Inc. (“LMHC” ), State La Mutuelle d’Assurance Automobile (“SAM”) or STFC or have the parties renounce the transactions; (3) uncertainty about the timing of transactions; (4) the activity of LMHC, SAM or STFC could be affected by the uncertainty surrounding the transactions; (5) the occurrence of any event, change or other circumstance that may result in the termination of the merger agreement; (6) risks associated with the disruption of management attention by the ongoing business operations of LMHC, SAM or STFC as a result of the transactions; (7) the effect of the announcement of the transactions on LMHC, SAM or STFC’s relationships with its customers, its operating results and its business in general; (8) the outcome of any legal proceedings initiated against LMHC, SAM or STFC following the announcement of the proposed transaction; and (9) LMHC, SAM or STFC may be adversely affected by other economic, business and / or competitive factors as well as by management’s response to any of the above factors. The above review of important factors should not be construed as exhaustive and should be read in conjunction with other caveats that are included here and elsewhere, including risk factors included in STFC’s most recent annual report. on Form 10-K, the most recent report from STFC on Form 10-K. Quarterly Report on Form 10-Q, the definitive proxy statement filed by STFC with the Securities Exchange Commission (the “SEC”) on August 27, 2021, and other STFC documents filed with the SEC. STFC assumes no obligation to update or revise forward-looking statements.

View the source version on businesswire.com: https://www.businesswire.com/news/home/20210930005165/en/

Contacts

Investor contact: Natalie Schoolcraft, [email protected], 614.917.4341
Media contact: Kyle Anderson, [email protected], 614.917.5497


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