North Palm Beach, Fla.-based AmCOMP Inc. received stockholder approval for Employers Holdings Inc. to acquire AmCOMP.
Approval required a vote of at least a majority of AmCOMP’s outstanding shares of common stock. Of the shares voted, over 99 percent voted in favor of the adoption of the merger agreement.
In accordance with the terms of the merger agreement, the closing of the merger is expected to take place on Oct. 31. Upon closing, each issued and outstanding share of AmCOMP common stock will be converted into the right to receive $12.15 in cash, without interest. At the same time, AmCOMP will become a wholly owned subsidiary of Employers Holdings Inc. and its shares of common stock will cease to be listed on The Nasdaq Global Select Market.
Source: AmCOMP Inc.
Was this article valuable?
Here are more articles you may enjoy.
Why New York’s Attorney General Objects to Trump’s Bond Insurer 
Chubb to Acquire MGA Healthy Paws From Aon 
California Sees Two More Property Insurers Withdraw From Market 
Marsh McLennan Agency to Buy Fisher Brown Bottrell for About $316M 
