HSR wait ends in proposed merger of Liberty Mutual, Safeco

By Lisa Kerner

Charlotte, N.C., June 3 - Liberty Mutual Group Inc. announced that the Hart-Scott-Rodino waiting period has expired in the company's proposed acquisition of Safeco Corp., satisfying a condition of the merger's close.

In April, Liberty Mutual agreed to acquire Safeco, a Seattle-based insurance company, for $68.25 per share in cash, a Liberty Mutual news release said.

The transaction, valued at $6.2 billion, is expected to close by the end of the third quarter of 2008.

Boston-based Liberty Mutual is a diversified insurer.

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