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Liberty Tax, Inc. stock price
Liberty Tax, Inc. latest news:
Liberty Tax Names Franchisee and Consultant Shaun York to COO Post Amid Management Shakeup
Liberty Tax(TAX) has named Shaun York as chief operating officer, effective immediately. York joined Liberty Tax (TAX) as a franchisee in October of 2003 and owns multiple franchise stores in the Tampa area. Over the past two days, the company also disclosed the appointment of new Chief Executive Officer Nicole Ossenfort and Chief Strategy Officer Ryan Dodson.
Lincoln Financial to buy Liberty Life Assurance Co. of Boston for $3.3 billion
Lincoln Financial Group said Friday it will pay $3.3 billion to buy Liberty Life Assurance Company of Boston from Liberty Mutual Insurance Group. Under terms of the deal, which is expected to close in the second quarter of 2018, Lincoln Financial's payment consists of $1.45 billion total net investment for the group benefits business, which includes a purchase price of $1.02 billion and $425 million in required capital. The deal also includes $1.20 billion associated with excess capital in LLAC, $4210 million of individual life and annuity value paid by Protective Life and $211 million of tax items. "Through this transaction, Lincoln Financial will have a significantly increased presence in the group benefits market by complementing our existing small to middle-market strengths with even deeper large case and disability expertise," said Chief Executive Dennis Glass. The stock, which was still inactive in premarket trade, has rallied 24.6% over the past 12 months, while the SPDR S&P Insurance ETF has gained 12.1% and the S&P 500 has climbed 23.6%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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