From staff and wire reports

No rebate forworkers' comp

For the first time since 1996, business and public employers in Ohio won't receive a rebate on their workers' compensation costs because of the sluggish economy and increased health-care costs.

The Ohio Workers' Compensation Oversight Commission on Thursday also approved a 9-percent premium rate increase for the policy year beginning July 1.

The rebates began after the agency decided in 1995 to keep its surplus at $3 billion and return additional money to employers.

A Workers' Compensation spokesman said the agency can no longer cover increased medical expenses and needed to raise the rate and stop rebates to keep the system funded.

Purchase outlined for State Auto

An investor has offered to buy Columbus-based State Auto Financial Corp. in an indirect transaction that values the insurer at more than $1 billion.

Greg Shepard, who owns 2 million shares, or about 5 percent, of the company, detailed his proposal Friday in a regulatory filing.

Under the deal, Mid-West Mutual Insurance Co., a company that would be formed under Shepard's control, would merge with State Automobile Mutual Insurance Co., which owns about 67 percent of State Auto Financial.

The resulting company would then buy the rest of State Auto Financial's public shares for $27.50 a share.

Shepard requested the company respond to his proposal before June 6. Company officials could not be reached for comment.

Spirits sales boost Brown-Forman

Louisville-based Brown-Forman Corp. said Friday that profit climbed 14 percent in its latest quarter on growth in the sales of its Jack Daniel's and Southern Comfort spirits and lower costs for a business-improvement program.

The producer of wines, spirits, fine china and luggage reported net income of $58.2 million, or 90 cents a share, for the fiscal fourth quarter ended April 30. Total sales rose 8.4 percent to $571.4 million.