Alfa Mutual Insurance Company and Alfa Mutual Fire Insurance Company have acquired all of the outstanding common shares of Alfa Corporation for $22 per share in cash.
Alfa Corporation, which is engaged in insurance and financial activities through its subsidiaries, is now a wholly owned subsidiary of the Alfa Mutual Insurance Company and Alfa Mutual Fire Insurance Company (referred to collectively as the Mutual Group).
Alfa Corporation has appointed its historical transfer agent, American Stock Transfer & Trust Company, to serve as the agent for payment of the merger consideration.
Jerry Newby, president and CEO of Alfa Corporation, said: This transaction is the result of a tremendous amount of hard work by many dedicated people, especially our board members. More importantly, this represents the beginning of an exciting new chapter in the history of the Alfa companies.