Nationwide received $47.20 per share or $2.2 billion buyout bid from a controlling group of shareholder. The group consists of Nationwide insurance companies and Nationwide Corp. The stock rallied after the news and traded above the offer price. The Nationwide stock traded as high as $65.50 last year and as low as $32 in the last five years. The company offer may be revised above $52 per share according to our estimate. |
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