A passive stake above 5% in Safety Insurance (SAFT) carries shared voting power.
Glazer Capital, LLC and Paul J. Glazer have reported a 5.1% passive stake in Safety Insurance Group Inc. (SAFT) through a Schedule 13G filing. This beneficial ownership of 750,000 common shares includes shared voting and dispositive power, with zero sole voting or dispositive power. The filing clarifies that this does not constitute an admission of beneficial ownership for Section 13 purposes.
Safety Insurance Group stock hits 52-week high at 103.9 USD
Safety Insurance Group (SAFT) stock reached a 52-week high of $103.90 USD, reflecting a 54.48% increase over the past year. The insurer, with a $1.52 billion market cap, trades at a P/E ratio of 22.26 and offers a 3.55% dividend yield, having maintained dividends for 24 consecutive years. Additionally, the company is progressing with its merger with MAPFRE U.S.A. Corp., with the Hart-Scott-Rodino Antitrust Improvements Act waiting period recently expiring.
Safety Insurance clears merger hurdle and Safety Insurance Group stock trades on deal terms
Safety Insurance Group (SAFT) has cleared a merger hurdle as the Hart-Scott-Rodino waiting period expired, satisfying one condition for its acquisition by MAPFRE U.S.A. Corp. The deal, valued at $105.00 cash per share, still requires additional regulatory approvals and shareholder action, with a proposed closing in the first quarter of 2027. Despite a strong second quarter in 2026, the company's half-year performance was impacted by severe winter weather earlier in the year.
Safety Insurance Group (SAFT) Stock Could Be Overpriced After A 75% Run
Safety Insurance Group (SAFT) has seen a significant 74.9% stock price increase over the past three years. However, an Excess Returns model suggests its current price of US$103.57 might be substantially overvalued, as the intrinsic value derived from its earnings above the cost of equity is much lower. This indicates that the market price already embeds considerable optimism about the insurer's future performance.
Safety Insurance's $1.54 billion sale to Mapfre draws shareholder investigation
Safety Insurance Group's $1.54 billion all-cash sale to a Mapfre affiliate for $105 per share is under shareholder investigation despite a 44% premium and unanimous board approval. Questions have arisen regarding whether the agreed price adequately reflects Safety Insurance's true value. The deal, which will make Safety a wholly owned subsidiary of Mapfre USA, is expected to close in Q1 2027 and is projected to boost Mapfre's net income by over 5% within three years.
Safety Insurance Group Investor Alert: Kahn Swick & Foti, LLC Inv
Kahn Swick & Foti, LLC (KSF) is investigating the proposed sale of Safety Insurance Group Inc. (SAFT) to an affiliate of Mapfre S.A. Shareholders are set to receive $105.00 in cash per share. KSF is scrutinizing whether this offer and the process leading to it adequately value the company.
Safety Insurance Group stock hits 52-week high at $103.86 By Investing.com
Safety Insurance Group (SAFT) stock recently reached a new 52-week high of $103.86, demonstrating a strong performance with a 51.42% one-year total return and a 37.46% year-to-date increase. The company has also consistently paid dividends for 24 consecutive years, currently yielding 3.56%. Additionally, a proposed merger with MAPFRE U.S.A. Corp. is progressing, with the Hart-Scott-Rodino waiting period having expired.
Safety Insurance Group stock hits 52-week high at $103.86
Safety Insurance Group Inc. (SAFT) stock has reached a new 52-week high of $103.86, driven by strong performance with a 51.42% one-year return and 37.46% year-to-date gain. The company has also maintained dividend payments for 24 consecutive years, yielding 3.56%. Additionally, a significant step in its proposed merger with MAPFRE U.S.A. Corp. has been achieved with the expiration of the Hart-Scott-Rodino waiting period.
Safety Insurance Group (SAFT) Stock Looks Above Fair Value on Current Returns
Safety Insurance Group (SAFT) has seen strong stock performance, but its current share price of $103.53 appears above its estimated intrinsic value based on an Excess Returns model. The company's modest value creation, with an implied Excess Return of $0.47 per share and an Average Return on Equity of 8.07%, suggests the stock is currently pricey. Investors are encouraged to consider the underlying business's ability to generate sufficient returns on capital to justify the current valuation.
Safety Insurance Group merger with Mapfre advances as HSR waiting period ends
Safety Insurance Group's proposed $1.52 billion merger with MAPFRE U.S.A. Corp. is progressing after the Hart-Scott-Rodino Antitrust Improvements Act waiting period expired. The deal, announced on July 23, 2026, has led to a 44% surge in Safety Insurance Group's shares over the past six months, and the stock is currently trading near its 52-week high. Completion of the merger is still contingent on other regulatory approvals.
Safety Insurance Group merger with Mapfre advances as HSR waiting period ends
Safety Insurance Group announced that the Hart-Scott-Rodino Antitrust Improvements Act waiting period for its proposed merger with MAPFRE U.S.A. Corp. has expired, fulfilling one of the conditions for the transaction's completion. The merger, valued at $1.52 billion, involves Splash Merger Sub, a wholly owned subsidiary of Mapfre, merging with Safety Insurance Group, which will then become a wholly owned subsidiary of Mapfre. The stock has seen a 44% surge over the past six months, reflecting investor optimism, although the merger still requires other regulatory approvals.
SHAREHOLDER NOTICE: Brodsky & Smith Announces an
Brodsky & Smith LLC has announced an investigation into Safety Insurance Group Inc. (Nasdaq – SAFT) regarding its sale to Mapfre S.A. for $105 per share, totaling approximately $1.54 billion. The law firm is investigating whether Safety Insurance's Board of Directors breached its fiduciary duties by failing to conduct a fair process and ensure fair value for shareholders. Shareholders of Safety Insurance are invited to contact Brodsky & Smith for a discussion of the legal implications.
Shareholders of Safety Insurance (NASDAQ: SAFT) weigh a 44.8% premium cash offer
Safety Insurance Group (SAFT) stockholders are considering an all-cash acquisition by MAPFRE U.S.A. Corp. for $105 per share, representing a 44.8% premium to its July 22, 2026 closing price. The deal would take Safety private and delist its stock, with the Board unanimously recommending approval. The merger requires majority stockholder approval and regulatory clearances, with an expected completion in the first quarter of 2027.
SAFT Stock Alert: Halper Sadeh LLC is Investigating Whether Safety Insurance Group Inc. is Obtaining a Fair Price for its Shareholders
Halper Sadeh LLC, an investor rights law firm, is investigating the sale of Safety Insurance Group Inc. (NASDAQ: SAFT) to an affiliate of Mapfre S.A. for $105.00 per share in cash. The investigation focuses on whether Safety Insurance's board of directors failed to obtain the best possible price for shareholders, conducted a fair sales process, and disclosed all material information. Halper Sadeh encourages SAFT shareholders to contact them to discuss their rights and options.
Safety Insurance Group stock hits 52-week high at $103.76 By Investing.com
Safety Insurance Group Inc. (SAFT) has reached a new 52-week high of $103.76, demonstrating a significant upward trend with a 43.75% return over the past year. The company's strong market performance and a recent increase in its revolving credit facility highlight investor confidence. Despite trading near its high, InvestingPro analysis suggests the stock may be undervalued, although its RSI indicates it is in overbought territory.
Archer Dividend Growth Fund's Safety Insurance Group Inc(SAFT) Holding History
Archer Dividend Growth Fund's ARCHER INVESTMENT SERIES TRUST held 6,500 shares of Safety Insurance Group Inc (SAFT) as of May 31, 2026, valued at $456,110. This holding represents 1.56% of their portfolio and 0.04% of SAFT's outstanding stock. The fund's estimated gain on its SAFT investment is $193,245, a 40.42% return since the initial purchase in Q2 2026 at an average price of $73.55.
Mapfre to Acquire Safety Insurance for $1.54 Billion in Cash Deal
Spain's Mapfre S.A. has agreed to acquire Safety Insurance Group Inc. for approximately $1.54 billion in an all-cash transaction. Safety Insurance, a Massachusetts and New England property/casualty insurer, will become a wholly-owned subsidiary of Mapfre U.S.A. Corp. and will continue to operate under its existing brand and management. The acquisition is expected to boost Mapfre's net profit by over 5% within three years and will create a dominant auto, home, and commercial auto insurer in New England.
Assenagon Asset Management S.A. Sells 12,849 Shares of Safety Insurance Group, Inc. $SAFT
Assenagon Asset Management S.A. significantly reduced its stake in Safety Insurance Group, Inc. by selling 12,849 shares, retaining 6,306 shares valued at $472,000. This comes as a major shareholder also sold a large portion of their holdings, though institutional investors still collectively own over 81% of the company. Safety Insurance Group recently reported strong quarterly earnings, beating EPS estimates, and announced a quarterly dividend, with its stock trading near a 52-week high.
BRODSKY & SMITH SHAREHOLDER UPDATE: Notifying Investors of the Following Investigations: Bowman Consulting Group Ltd. (Nasdaq – BWMN), Bowhead Specialty Holdings Inc. (NYSE – BOW), Lantheus Holdings Inc. (Nasdaq – LNTH), Safety Insurance Group Inc. (Nasdaq – SAFT)
Brodsky & Smith is investigating potential breaches of fiduciary duties by the Boards of Directors of Bowman Consulting Group Ltd., Bowhead Specialty Holdings Inc., Lantheus Holdings Inc., and Safety Insurance Group Inc. These investigations stem from proposed all-cash acquisitions of the respective companies, raising concerns about whether shareholders are receiving fair value and if the processes were equitable. Investors are encouraged to contact Brodsky & Smith for discussions regarding these investigations.
Safety Insurance Group (SAFT) Stock Faces Valuation Questions After Underwriting Rebound
Safety Insurance Group (SAFT) experienced a rebound in underwriting profitability in Q2 2026, with its combined ratio improving to 95.7%, and revenue and net income showing growth year-over-year. Despite these positive short-term results, concerns persist regarding the company's long-term earnings trends, high payout ratio, and concentrated operational footprint, leading to questions about its valuation. The article suggests that while the recent improvements are encouraging, deeper structural issues may still be present.
SAFETY INSURANCE GROUP INC Q2 2026: Revenue $325.7M, EPS $2.36— 10-Q Summary
SAFETY INSURANCE GROUP INC (SAFT) reported Q2 2026 results, showing revenue of $325.7 million and diluted EPS of $2.36, driven by higher premiums despite increased weather-related claims. The company saw a 3.0% YoY revenue increase and a 21.0% YoY increase in diluted EPS. Additionally, SAFETY Insurance has entered a merger agreement to be acquired for $105.00 per share.
Safety Insurance Group (NASDAQ:SAFT) Reaches New 12-Month High on Earnings Beat
Safety Insurance Group (NASDAQ:SAFT) achieved a new 52-week high after surpassing analyst expectations for both quarterly EPS and revenue. Despite the positive earnings, analysts generally maintain a "Hold" rating for the stock, and insider selling has significantly reduced some major shareholders' positions. Institutional investors hold a large percentage of the stock, but recent insider transactions show a substantial divestment of shares.
Safety Insurance Group, Inc. Declares Dividend for the Third Quarter 2026, Payable on September 15, 2026
Safety Insurance Group, Inc. has declared a quarterly cash dividend of $0.92 per share for the third quarter of 2026. The dividend is payable on September 15, 2026, to shareholders of record as of September 1, 2026. This announcement follows recent financial news including their Q2 earnings report and an agreement to be acquired by Mapfre for $1.54 billion.
Safety Insurance Group reports Q2 2026 net income $34.5M, diluted EPS $2.36; board declares $0.92 dividend
Safety Insurance Group announced a Q2 2026 net income of $34.5 million, or $2.36 per diluted share, an increase from Q2 2025. The company's combined ratio improved to 95.7%, and its board declared a $0.92 quarterly cash dividend. Additionally, Safety Insurance Group is set to be acquired by an affiliate of Mapfre in an all-cash deal valued at approximately $1.54 billion, with shareholders receiving $105 per share.
Press Release: Safety Insurance Group, Inc. Announces Second Quarter 2026 Results and Declares Third Quarter 2026 Dividend
Safety Insurance Group, Inc. announced its financial results for the second quarter of 2026. The company also declared a quarterly dividend for the third quarter of 2026. This press release provides details on their recent financial performance and upcoming dividend payment.
Mapfre USA to acquire Safety Insurance for $1.54 bn
Mapfre USA Corporation has agreed to acquire Safety Insurance Group in an all-cash transaction valued at $1.54 billion, aiming to strengthen its property and casualty position in Massachusetts and across the Northeast. The acquisition is expected to close in Q1 2027, making the combined entity the second-largest private passenger auto insurer and the largest homeowners and commercial auto insurer in New England. Mapfre anticipates significant synergies and a positive impact on net income and Solvency II ratios.
Safety Insurance Group stock hits 52-week high at $103.53
Safety Insurance Group Inc. (SAFT) stock has reached a new 52-week high of $103.53, marking a 54% total return over the past year and nearly 36% year-to-date gains. This performance highlights strong investor confidence in the company, which also offers a 3.6% dividend yield and has maintained dividend payments for 24 consecutive years. The company recently increased its revolving credit agreement from $50 million to $100 million and elected new Class III directors.
Safety Insurance Group (SAFT) holders disclose sub-5% positions in 13G/A
SRB Corporation, The Plymouth Rock Company Incorporated, and Palisades Safety and Insurance Association have filed an amended Schedule 13G (Amendment No. 16) disclosing their sub-5% beneficial ownership stakes in Safety Insurance Group, Inc. (SAFT). Each entity reports shared voting and dispositive power over certain amounts of common stock, with SRB Corporation holding 1.75%, The Plymouth Rock Company Incorporated holding 0.78%, and Palisades Safety and Insurance Association holding 0.97% of the outstanding shares. The filing clarifies that while they make a joint submission, this should not be interpreted as an admission of forming a "group" under Section 13(d).
Safety Insurance Group Investor Alert: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Safety Insurance Group Inc. - SAFT
Kahn Swick & Foti, LLC (KSF) is investigating the proposed sale of Safety Insurance Group Inc. (NasdaqGS: SAFT) to an affiliate of Mapfre S.A. The law firm is scrutinizing whether the offered price of $105.00 per share and the process leading to this offer are fair and adequate for Safety Insurance shareholders. KSF encourages shareholders who believe the transaction undervalues the company to contact them to discuss their legal rights.
Is Safety Insurance Group (SAFT) Overvalued Following MAPFRE's $105 A Share Bid?
MAPFRE U.S.A. Corp. has offered to acquire Safety Insurance Group (SAFT) for US$105 per share, an offer that represents a 44% premium to its pre-announcement price. Despite the strong market reaction, Simply Wall St's analysis suggests Safety Insurance Group is overvalued at its current P/E of 23.8x compared to the industry average, and a discounted cash flow model estimates a fair value of US$63.67 per share, indicating potential downside if the deal falls through.
Safety Insurance Group (SAFT) affiliates sell 1.24M indirect shares
SRB Corporation and The Plymouth Rock Company Incorporated, affiliates of Safety Insurance Group (SAFT), have reported indirect sales totaling 1.24 million shares of common stock on July 27, 2026. These transactions, valued at approximately $127.84 million, involved sales at prices slightly above $103 per share. Both reporting entities disclaim beneficial ownership except for their pecuniary interests, outlining a complex ownership structure through various subsidiaries.
Srb Corp, 10% owner, sells $127.8m in Safety Insurance Group stock
SRB Corporation, a 10% owner of Safety Insurance Group Inc. (NASDAQ:SAFT), jointly with The Plymouth Rock Company Incorporated, sold over 1.2 million shares of stock totaling approximately $127.8 million on July 27, 2026. This significant sale occurred while the stock was trading near its 52-week high, following substantial recent gains, although InvestingPro analysis indicates it remains undervalued. Following these transactions, the reporting entities beneficially own 473,387 shares, while Safety Insurance Group has also increased its revolving credit facility and elected new Class III directors.
Safety Insurance Group Investor Alert: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Safety Insurance Group Inc. - SAFT
Kahn Swick & Foti, LLC (KSF) is investigating the proposed sale of Safety Insurance Group Inc. (SAFT) to an affiliate of Mapfre S.A. The law firm is examining whether the offering price of $105.00 per share is adequate and if the sale process was fair. Shareholders believing the transaction undervalues the company are encouraged to contact KSF.
AM Best says MAPFRE’s Safety Insurance acquisition is strategically compelling
AM Best has described MAPFRE’s planned acquisition of Safety Insurance Group, Inc. as strategically compelling. This transaction is expected to strengthen MAPFRE’s presence in Massachusetts and support its expansion across the New England region by combining two insurers with similar regional footprints and product offerings. AM Best affirmed that MAPFRE's credit ratings remain strong, reflecting its balance sheet strength, operating performance, favorable business profile, and international diversification.
SRB Corp sells $4.0 million of Safety Insurance Group stock
SRB Corp, a 10% owner of Safety Insurance Group Inc. (NASDAQ:SAFT), sold 38,835 shares of the company's common stock for over $4 million on July 24, 2026, priced at $103.0776 per share. This transaction occurred as SAFT shares surged, with the company also recently amending its revolving credit agreement, doubling it to $100 million, and holding its annual meeting to elect directors. Despite the sale, SRB Corp and related entities still beneficially own over 1.7 million shares, and an InvestingPro analysis suggests Safety Insurance remains undervalued.
Safety Insurance Group (NASDAQ: SAFT) insiders report sale of 38,835 shares
SRB Corporation and The Plymouth Rock Company Incorporated, affiliates of Safety Insurance Group (NASDAQ: SAFT) and 10% owners, reported an indirect sale of 38,835 shares of common stock on July 24, 2026, at $103.0776 per share. Following this transaction, entities associated with Plymouth Rock and Palisades Safety and Insurance Association collectively hold 1,713,739 shares. Both reporting persons disclaim beneficial ownership except to the extent of any pecuniary interest, with SRB acting as an investment manager.
AM Best Comments on Credit Ratings of MAPFRE S.A.’s Rated Operating Subsidiaries Following Announced Acquisition of Safety Insurance Group, Inc.
AM Best has announced that the Credit Ratings of MAPFRE S.A.'s operating subsidiaries remain unchanged following MAPFRE U.S.A. Corporation's agreement to acquire Safety Insurance Group, Inc. The acquisition is viewed as strategically compelling, enhancing MAPFRE's market position in Massachusetts and expanding its footprint in New England. MAPFRE's ratings reflect its strong balance sheet, operating performance, favorable business profile, and appropriate enterprise risk management.
Mapfre to acquire Safety Insurance for $1.54B in all-cash deal
Mapfre, a Spanish insurer, has agreed to acquire Safety Insurance Group, a Massachusetts-based property and casualty insurer, for $1.54 billion in an all-cash deal. Safety Insurance shareholders will receive $105 per share, a 44% premium. This acquisition will expand Mapfre's footprint in the Northeast and is expected to close in the first quarter of 2027, making the combined entity the second-largest writer of private passenger auto in New England and the largest homeowners and commercial auto insurer in the region.
AM Best Places Credit Ratings of Safety Insurance Group, Inc. and Its Key Subsidiaries Under Review With Developing Implications
AM Best has placed the credit ratings of Safety Insurance Group, Inc. and its key subsidiaries under review with developing implications. This action follows the announcement that Safety has entered into a merger agreement with MAPFRE U.S.A Corporation. The developing implications reflect the need for further analysis regarding the strategic plan and integration of Safety into Mapfre, with the acquisition subject to regulatory approvals and expected to complete by the end of Q1 2027.
Safety Insurance to Be Acquired by Mapfre in $1.54 Billion All-Cash Transaction
Safety Insurance Group Inc. has agreed to be acquired by an affiliate of Mapfre S.A. in an all-cash transaction valued at approximately $1.54 billion, or $105 per share. The acquisition, expected to close in the first quarter of 2027, will see Safety operate as a wholly owned subsidiary of Mapfre U.S.A. Corp., maintaining its brand and regional operations. Both companies emphasize a shared commitment to underwriting discipline, customer service, and long-term value, with Safety gaining access to Mapfre's global resources while preserving its local identity.
47-year-old insurance stock shocks market with jaw-dropping move
Safety Insurance (SAFT) shares surged by 41% after Spanish insurer Mapfre S.A. announced an all-cash offer to acquire the company for $1.54 billion, valuing each share at $105. This represents a significant premium for Safety Insurance, which had reported a net loss in the first quarter of 2026. While the deal offers a clear exit for current shareholders, new investors face minimal potential gains and risks until the acquisition is finalized in early 2027.
Mapfre agrees to buy Safety Insurance in $1.54 billion all-cash deal to expand Northeast
Mapfre S.A. has agreed to acquire Massachusetts-based Safety Insurance Group for $1.54 billion in an all-cash deal, significantly expanding its presence in the U.S. Northeast. The acquisition will make the combined entity the second-largest writer of private passenger auto insurance and the largest homeowners and commercial auto insurer in New England. Safety Insurance has faced recent operational headwinds and a negative outlook from AM Best due to weather-related claims and underwriting results.
Spain's Mapfre buys Massachusetts insurer Safety for $1.54B in all-cash transaction
Spain's Mapfre has agreed to acquire Massachusetts-based Safety Insurance Group for $1.54 billion in an all-cash deal, expanding its presence in the U.S. Northeast. The acquisition, expected to close in Q1 2027, will create the second-largest private passenger auto insurer and the largest homeowners and commercial auto insurer in New England. Mapfre anticipates annual pre-tax synergies of over $30 million from the transaction.
SAFT Surges As Safety Insurance Group Lands $1.54B Cash Buyout
Safety Insurance Group Inc. (SAFT) stock surged over 40% after Mapfre S.A. affiliate agreed to acquire the company for $105 per share in an all-cash deal, valuing it at approximately $1.54 billion. This represents a 44% premium to pre-deal levels, and shares rapidly repriced towards the takeover price. Although some law firms are reviewing the fairness of the offer, the deal is expected to close in Q1 2027, making it primarily an arbitrage play until then.
Safety Insurance soars 41% on $1.54B Mapfre buyout deal (SAFT:NASDAQ)
Safety Insurance Group (SAFT) shares surged 41% after announcing an agreement to be acquired by an affiliate of Mapfre for approximately $1.54 billion in an all-cash deal. Mapfre is offering a 44% premium to the prior closing price, valuing the deal at $105 per share. Given that Mapfre is paying a "full standalone price" of 1.8x book value, a competing bid is deemed unlikely.
$HAREHOLDER ALERT: The M&A Class Action Firm Announces An Investigation of Safety Insurance Group Inc. (NASDAQ: SAFT)
Monteverde & Associates PC, a class action firm, announced an investigation into Safety Insurance Group Inc. (NASDAQ: SAFT) concerning its proposed sale to an affiliate of Mapfre S.A. The firm is examining whether the $105.00 per share cash offer is fair to shareholders. They encourage Safety Insurance stockholders with concerns to contact them for more information.
Mapfre to Acquire Safety Insurance Group for $1.54 Billion in All-Cash Deal
Mapfre, a global insurer, is set to acquire Safety Insurance Group for $1.54 billion in an all-cash deal, offering Safety shareholders a 44% premium. This acquisition will strengthen Mapfre's presence in the New England property and casualty insurance market. Safety will operate as a wholly-owned subsidiary, retaining its brand and management team, benefiting from Mapfre's financial resources and expertise.
Safety Insurance Group to Be Acquired by MAPFRE USA for $105 Per Share in All-Cash Deal
Safety Insurance Group has entered into an agreement to be acquired by MAPFRE U.S.A. for $105.00 cash per share. The transaction will result in Safety Insurance Group becoming a wholly-owned subsidiary of MAPFRE U.S.A. and is contingent on shareholder approval, antitrust clearance, and approval from the Massachusetts Commissioner of Insurance.
MAPFRE to acquire Safety Insurance for $1.54 billion amid shareholder probe
MAPFRE announced its acquisition of Safety Insurance Group for $1.54 billion, aiming to become a major auto and homeowners insurer in New England. This deal, supported by strong first-half earnings, is already facing scrutiny from a shareholder rights law firm investigating if the $105-per-share offer is fair. The acquisition is expected to close in Q1 2027 and will strengthen MAPFRE's position in the US Northeast, projecting over $30 million in annual pre-tax synergies.
Mapfre to acquire Safety Insurance Group for $1.54bn to strengthen Northeast position
Mapfre, through its U.S. subsidiary, plans to acquire Safety Insurance Group for $1.54 billion in an all-cash transaction. This acquisition aims to bolster Mapfre USA's presence in Massachusetts and the Northeastern U.S., creating the second-largest private passenger auto underwriter and the largest homeowners and commercial auto insurer in New England. The deal, expected to close in Q1 2027, is projected to be accretive to Mapfre's net income by over 5% and generate over $30 million in annual pre-tax synergies.
