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22 May 2012

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Liberty Mutual pulls $1bn+ IPO

29 September 2010

Liberty Mutual Group has shelved a planned $1bn+ initial public offering (IPO) of its agency business, citing an "unfavourable" climate for achieving the desired value for the unit.

According to sources, the insurer informally floated the idea with potential investors of reducing the pricing range on the Liberty Mutual Agency Corp (LMAC) IPO from $18-$20 per Class A share to closer to $15-$16 before deciding to postpone the offer.

At the original pricing range, the proposed IPO of as many...

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