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Allstate enters accelerated share repurchase agreement

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Allstate enters accelerated share repurchase agreement

Allstate Corp. has entered into an accelerated share repurchase agreement with Morgan Stanley & Co. LLC to purchase $300 million of its outstanding common stock.

This agreement is part of Allstate's $2 billion repurchase program that was announced Aug. 1. Excluding repurchases under this agreement, Allstate has repurchased 5.1 million common shares in total as of Dec. 8, for an aggregate amount of $477 million.