This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

FBL Financial Group, Inc. Announces Modified Dutch Auction Tender Offer And Share Repurchase For Up To $175 Million Of Shares Of FBL Class A Common Stock

FBL Financial Group, Inc. (NYSE: FFG) announced today that its Board of Directors has approved share repurchase transactions totaling up to $175 million. The repurchases will be effected by a tender offer for up to $140 million of shares of its Class A Common Stock (the “Shares”) and a separate agreement to repurchase up to 1,000,000 Shares from Iowa Farm Bureau Federation, its majority shareholder, for the price at which Shares are purchased in the tender offer. These transactions are part of FBL Financial Group’s $200 million stock repurchase authorization announced on October 7, 2011. The tender offer is expected to commence the week of February 27, 2012.

“Executing a repurchase via a tender offer is a very efficient way to utilize excess capital,” said James E. Hohmann, Chief Executive Officer of FBL Financial Group. “We believe this repurchase, combined with our increased focus on our attractive Farm Bureau niche, will create value for shareholders.”

Under the tender offer, which is structured as a modified “Dutch action,” shareholders may tender all or a portion of their Shares at a price between $33.00 and $35.00 per Share, in increments of $0.25 per Share. When the tender offer expires, FBL Financial Group will select the lowest price within the range enabling it to purchase up to $140 million of Shares and all Shares purchased will be purchased at the same price. Participating shareholders will receive the purchase price in cash, without interest and subject to applicable withholding taxes. All Shares tendered at prices higher than the purchase price will be returned promptly to shareholders. However, FBL Financial Group reserves the right to purchase up to an additional 2% of the outstanding Shares without amending or extending the tender offer. In the event the tender offer is not fully subscribed, the aggregate number of Shares to be repurchased from Iowa Farm Bureau Federation will be proportionately reduced.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.24 -0.41%
FB $117.81 -0.21%
GOOG $701.43 0.82%
TSLA $211.53 -4.96%
YHOO $36.94 2.61%


Chart of I:DJI
DOW 17,660.71 +9.45 0.05%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs