United Fire to merge with Mercer Insurance Group - KWWL - Eastern Iowa Breaking News, Weather, Closings

United Fire to merge with Mercer Insurance Group

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CEDAR RAPIDS (KWWL)--  The United Fire and Casualty Company, based in Cedar Rapids, has announced a merger with Mercer Insurance Group.

Mercer is based out of Pennington, New Jersey.

Under the agreement, United Fire will acquire all outstanding shares of Mercer's common stock for about $28 per share.

Mercer's board of directors unanimously approved the merger. The agreement must still go before the shareholders of Mercer Insurance, and be approved by regulators.

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