Security Capital Corporation Announces Completion of Merger
September 13 2006 - 1:33PM
Business Wire
Security Capital Corporation (AMEX: SCC) ("Security Capital" or the
"Company") announced today that it has completed its previously
announced merger with Sedgwick CMS Holdings, Inc. As a result of
the merger, Security Capital's Class A Common Stock will no longer
be listed on the American Stock Exchange. Under the terms of the
merger, Security Capital stockholders are entitled to receive
$16.46 in cash per share of Security Capital Common Stock and Class
A Common Stock. Security Capital stockholders will shortly receive
a letter of transmittal with instructions informing them how to
send their shares of Security Capital Common Stock and Class A
Common Stock to the paying agent to receive the merger
consideration. Additional details relating to the transaction are
set forth in Security Capital's proxy statement that was previously
mailed to shareholders and that are available at the SEC's website,
www.sec.gov. Security Capital operates as a holding company that
actively participates in the management of its subsidiaries. The
Company conducts business through its wholly owned subsidiary
CompManagement, Inc. ("CompManagement"). CompManagement is a
leading independent provider of comprehensive claims management,
cost containment and consulting services designed to control the
cost to employers of workers' compensation, medical malpractice,
automobile, general liability, unemployment and short- and
long-term disability insurance benefits. CompManagement's
activities are primarily centered in Ohio, California, Virginia,
Maryland, Texas, Michigan, Florida, Washington, Minnesota and New
York. Sedgwick CMS is the parent company of Sedgwick Claims
Management Services, Inc., a leading provider of innovative claims
and productivity management solutions. The principal equity holders
of Sedgwick CMS are Fidelity National Financial, Inc. (NYSE: FNF),
Thomas H. Lee Partners, L.P. and Evercore Capital Partners.
Forward-Looking Statement This press release contains
"forward-looking" statements within the meaning of the "safe
harbor" provisions of the Private Securities Litigation Reform Act
of 1995. Such statements are based upon management's current
expectations and are subject to a number of factors and
uncertainties which could cause actual results to differ materially
from those described in the forward-looking statements. Such
factors and uncertainties include, but are not limited to: future
legislative changes which could impact the laws governing workers'
compensation and medical malpractice insurance in the various
states in which the Company's employer cost containment and health
services segment operates, the Company's ability to enhance its
existing services and successfully introduce and market new
services, new service developments by the Company's competitors,
market acceptance of new services of both the Company and its
competitors, competitive pressures on prices, and the ability to
attract and retain qualified personnel, interest rates.
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