M&A · Financials · Fire, Marine & Casualty Insurance
MAPFRE U.S.A. Corp. to acquire Safety Insurance Group Inc
Announced Jul 23, 2026 · Pending Sep 3, 2026
Deal value$1.54B
Premium44.0%To unaffected price
EV / Adj. EBITDA—
ConsiderationAll cash$105.00 per share
Transaction
- Acquirer
- MAPFRE U.S.A. Corp.
- Target
- Safety Insurance Group Inc (SAFT)
- Buyer type
- Strategic
- Offer price per share
- $105.00
- Enterprise value
- —
- Status
- Pending Sep 3, 2026
Deal protections
- Break fee (target pays)
- $46.2M · 3.0%
- Reverse fee (buyer pays)
- $112M · 7.3%
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Not disclosed
- To the target
- Jefferies
- Jefferies fee
- $17.5M
Sector context · Financials
- Comparable deals
- 79 in the prior 24 months
- Premium
- 44.0% vs. 34.0% sector median
- EV / Adj. EBITDA
- Sector median 13.7x
- Break fee
- 3.0% vs. 3.8% sector median
Timeline
- AnnouncedJul 23, 2026
- Proxy filedSep 3, 2026
- Definitive proxySep 14, 2026
- Shareholder votePending
- ClosedPending
Valuation · fairness opinions
Trading comparables$61.25$105.00
Trading comparables$59.50$102.00
Trading comparables$57.75$81.50
Precedent transactions$58.25$116.50
Precedent transactions$56.75$116.25
Offer $105.00
Implied value per Safety Insurance Group Inc share by analysis, from Jefferies.