Deal Snapshot
ALLSTATE RECOMMENDS SHAREHOLDERS REJECT PEER AND PERI MINI-TENDER OFFER
Monday 15 April 2019

US-based insurer The Allstate Corp. (NYSE: ALL) has received notice of an unsolicited "mini-tender" offer by investor Peer and Peri LLC to purchase up to 40,000 shares of Allstate's common stock, the company said. Peer and Peri's offer price of USD 76.00 per share is approximately 20% lower than the USD 94.87 closing price of Allstate shares on April 8, 2019, the date the offer commenced.
Allstate stressed to shareholders it is not affiliated in any way with Peer and Peri, the offer or the offer documentation. The Peer and Peri mini-tender offer is not related in any way to Allstate's share repurchase program. However, the rules and regulations of the Securities Exchange Act of 1934 require Allstate to publicize its position with respect to the offer.


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Details
Date Published: 15/04/2019
Target: The Allstate Corp
Country: USA
Deal Size: 3.040m (USD)
Sector: Insurance
Type: Stakebuilding
Financing: Cash
Status: Bidding
Vendor:
Buyer: Peer and Peri LLC
Comment:


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