Nationwide Is Said to Be in Talks to Buy Harleysville Group

Nationwide Mutual Insurance Co., the eighth-largest U.S. personal auto insurer, is in talks to buy Pennsylvania-based rival Harleysville Group Inc. and its parent firm, said people with knowledge of the negotiations.

The companies may be days away from signing a deal, said the people, who spoke on condition of anonymity because the discussions are private. Talks could still collapse, they said. Harleysville Group had a market value of about $690 million as of yesterday. Its majority shareholder, Harleysville Mutual Insurance Co., is owned by its policyholders, as is Nationwide.