FBL completes stock repurchase
Friday, September 27, 2013 4:20 PM
West Des Moines-based FBL Financial Group Inc. today announced the results of its Class B tender offer, which expired on Sept. 25. FBL will repurchase 1,023,948 shares of Class B common stock at a purchase price of $45.33 per share for a total cost of $46.4 million, the company said in a release. In addition, 105,930 shares of Class B common stock will be converted to Class A common stock. The company said it will fund the repurchase with cash at the holding company, following a $120 million dividend from its subsidiary, Farm Bureau Life Insurance Co.