Shareholders agree to £150m takeover.

Liverpool Victoria has said its £150m offer for Highway Insurance has been declared wholly unconditional.

A statement to the London Stock Exchange said: "On 28 August 2008, the Boards of Liverpool Victoria Insurance Company and Highway Insurance Group announced that they had reached agreement on the terms of a recommended cash offer to be made by LVIC for the entire issued and to be issued share capital of Highway. The Offer Document was posted to Highway Shareholders on 12 September 2008.

"LVIC announces that all of the conditions of the Offer have now been satisfied or waived and, accordingly, the Offer has been declared wholly unconditional."

Liverpool Victoria is offering 73.35 pence per share, plus the interim dividend of 1.65 pence, to give a total 75 pence cash per share.