INSURANCE

Provident to Buy Paul Revere: The $1.2-billion acquisition would combine two of the leading disability insurance providers. Textron Inc. has agreed to sell its 83% stake in Paul Revere Corp. for $975 million and plans to focus on its manufacturing and finance business. Provident Cos. said some jobs would be lost in the combination, but it did not give estimates. The plan awaits shareholder and government approval. The new company would be based in Chattanooga, Tenn., but would maintain operations at Paul Revere’s base in Worcester, Mass. Provident would pay $26 per share for the stock.