India, July 24 -- Safety Insurance Group, Inc. (SAFT) shares surged $30.13, or 41.30 percent, to $103.07 on Friday, extending gains after the company agreed to be acquired by an affiliate of Mapfre S.A. in an all-cash transaction valued at approximately $1.54 billion.
The stock opened at $103.00 and traded between $102.87 and $103.42 during the session on the Nasdaq. It has traded in a 52-week range of $67.04 to $103.42. Trading volume reached 0.47 million shares, compared with an average daily volume of 0.11 million shares.
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Under the agreement announced Thursday, Safety shareholders will receive $105 per share in cash, representing a 44 percent premium ...