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.
Florida’s Private Railroad, Brightline, Files for Bankruptcy 
A-Cap Insurers File Suit Against SCDOI Director; AM Best Downgrades Group 
Florida Farm Manager the Latest to Plead Guilty in Crop Insurance Fraud Probe 
Banks Warn AI Shopping Bots Raise Scam, Fraud and Data-Privacy Risks 
