Health care liability insurance provider American Physicians Capital Inc., based in East Lansing, Mich., announced the completion of the merger pursuant to which APCapital became a wholly owned subsidiary of The Doctors Company, a large national insurer of physician and surgeon medical liability.
On July 7, 2010, APCapital entered into a merger agreement with The Doctors Company which called for APCapital shareholders to receive $41.50 in cash, without interest, for each share of APCapital common stock held. The transaction was approved by APCapital’s shareholders on October 20, 2010. The total transaction is valued at approximately $386 million.
As a result of this transaction, APCapital’s common stock ceased to trade on the Nasdaq Stock Market at the close of business on Oct. 22.
Source: APCapital
Topics Mergers & Acquisitions
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