News outlets in the Illinois area are stating Allstate is in "aggressive" talks with another insurer to sell their book of business by YE of 2023 if not sooner.......Geico, Progressive, any guesses which one is soon to own Allstate?
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Sounds like AS took their leadership and ideas from Sears……
On the other hand - when you buy a junk car (Allstate) - you can often more than recoup your investment by selling off the parts ( HO insurance - Benefits - etc).
There's one fellow famous for this method of operation...I think his last name is Icahn or something like that...
I've said it before, but I will say it again. If a company were to buy Allstate they would have to pay over the current stock price. It is currently $128. Let's just say it would take $145 a share to buy the company. What insurance company can afford to pay that price and have the ability to take on the additional cost of integration of people, technology, etc? It is just not going to happen. If it were going to happen it would have happened back when the stock dropped into the teens during the financial crisis. No way is Allstate getting bought out when it would be insanely expensive to do so.
Carl Icahn…
This isn’t as far off the mark as you think. Consecutive quarterly (big) losses, loss of market share, aggressive selling of stock by senior leadership and declining stock price something is brewing don’t let the HO shills tell you different.
Oh part of this is correct BUT they're not selling to their competitors....they are allowing VENDORS in Columbia, India and who knows where else to buy them out. Geesh...this has been repeated all over this site. They've lost SO MUCH MONEY since covid this move is to save them company. Employ workers elsewhere. If you're in the U.S. most will be hired to this vendor too probably with stricter rules and less pay. It's all sad. Just leave now and stop waiting for the inevitable..
OK, I'll play this game. Here's my guess - none of the above.
Clowns like this ruined this site
I call BS on this post!
Fake news
What news outlets? This is made up.