Allstate Unit To Buy SquareTrade For $1.4 Billion

Allstate Non-Insurance Holdings Inc., the insurance broker subsidiary of Allstate Corp. , said late Monday it has agreed to buy SquareTrade Holding Company Inc. for about $1.4 billion in cash and debt. The transaction is expected to close in January. Privately held SquareTrade, based in San Francisco and London, is a provider of extended warranty plans for electronics and gadgets. Shares of Allstate fell 0.2% in the extended session after ending the regular trading day down less than 0.1%.

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