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Insurer Kemper to buy Infinity Property and Casualty for $1.3 bln

Feb 13 (Reuters) - Insurer Kemper Corp on Tuesday said it would acquire Infinity Property and Casualty Corp in a cash-and-stock deal valued at about $1.3 billion.

Kemper will offer $51.60 in cash and 1.2019 in common shares for each share of Infinity, valuing the company at $121 per share based on Monday's close. (Reporting by Nikhil Subba in Bengaluru; Editing by Anil D'Silva)