Rockhill Holding Co. and RTW, Inc. announced today that they have entered into a definitive merger agreement under which Rockhill will acquire all outstanding shares of RTW stock for $12.45 per share in cash, in a transaction valued at approximately $67.6 million. After the merger, RTW will continue to operate as a separate wholly-owned subsidiary of Rockhill.
According to the Rockhill’s written statement, the proposed transaction has been unanimously approved by the Boards of Directors of both companies and is subject to customary closing conditions, regulatory reviews and approvals and approval by the shareholders of RTW. The transaction is not subject to financing conditions. The parties expect the transaction to close on or before December 31, 2007.
Rockhill Holding Co. is a Kansas City-based insurance holding company writing specialty property and casualty business through its two insurance company subsidiaries, Rockhill Insurance Co. and Plaza Insurance Co.
RTW, Inc., based in Minneapolis, provides products and services to manage insured and self-insured workers’ compensation, disability and absence programs.systems with state-of-the-art technology and talented people
Source: Rockhill
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