ProAssurance/American Physicians Service
On September 1, 2010, ProAssurance Corporation (NYSE: PRA) announced an agreement to acquire American Physicians Service Group, Inc. (Nasdaq: AMPH) in an all-cash deal valued at $32.50 per share.
Shares of American Physicians Service closed at $26.30 yesterday, giving the deal a nearly 24 percent premium.
ProAssurance's Chairman and Chief Executive Officer, W. Stancil Starnes , said, "This is an attractive strategic and financial acquisition."
There is no financing condition to consummate the transaction and it is expected to close by year-end.
Shares of American Physicians Service closed at $26.30 yesterday, giving the deal a nearly 24 percent premium.
ProAssurance's Chairman and Chief Executive Officer, W. Stancil Starnes , said, "This is an attractive strategic and financial acquisition."
There is no financing condition to consummate the transaction and it is expected to close by year-end.
