Insurance officials in California and Illinois have given their approval for Batus Inc. to acquire Farmers Group Inc., the companies said in a joint announcement Monday. The statement said affirmative action was taken by California Insurance Commissioner Roxani Gillespiee and Illinois Insurance Director John Washburn. Batus and Farmers, a California insurance company, announced Aug. 24 that they had entered into an agreement providing for Batus to acquire Farmers at a price of $75 per share in cash, or about $5.2 billion. Arizona, Idaho and Washington ruled favorably on the plan earlier but it still must be accepted by four other states.
