FBL Financial Group Inc. announced today that it has received the necessary approvals from the Financial Industry Regulatory Authority for its proposed merger transaction with Farm Bureau Property & Casualty Insurance Co., which if approved by shareholders will take the now publicly traded company private. With FINRA’s approval, the proposed transaction has now received all regulatory approvals required for closing, the West Des Moines-based insurance group said. Under the terms of the proposed transaction, FBPCIC would acquire all of the outstanding shares of FBL Financial Group Class A and Class B common stock, excluding shares owned by FBPCIC and the Iowa Farm Bureau Federation, for $56 per share in cash. The transaction remains subject to the approval of a majority of FBL Financial Group’s unaffiliated shareholders, who will meet on Thursday to vote on it.