Batus Inc.’s $5.2-billion acquisition of Farmers Group,...

Batus Inc.’s $5.2-billion acquisition of Farmers Group, based in Los Angeles, was approved by Oregon’s insurance director. Oregon was the ninth and last state required to rule on the acquisition of the insurance holding company, which is expected to be approved by Farmers’ shareholders at a meeting scheduled for 10:30 a.m. Wednesday at the Beverly Hilton. The shareholders stand to be paid $75 a share by Batus, U.S. subsidiary of London-based BAT Industries, in what will be the state’s largest takeover, edging out General Motors’ $5.1-billion purchase of Hughes Aircraft in 1985. The deal is expected to close Jan. 3.