American Physicians Capital, Inc. Announces Completion of Merger
October 22 2010 - 12:50PM
Business Wire
American Physicians Capital, Inc. (APCapital) (NASDAQ:ACAP), a
major provider of health care liability insurance, today announced
the completion of the merger pursuant to which APCapital became a
wholly owned subsidiary of The Doctors Company, the largest
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 will
cease to trade on the Nasdaq Stock Market at the close of business
today, October 22, 2010, and will thereafter be delisted.
As soon as practicable, BNY Mellon Shareowner Services, the
paying agent appointed for the transaction, will mail letters of
transmittal to all of APCapital’s shareholders of record with
instructions on how to deliver their shares to the transfer agent
in exchange for payment of the merger consideration to be
distributed shortly after closing. Shareholders of record should
not surrender their stock certificates until they have completed
the letter of transmittal. Shareholders who hold their shares in
“street name” through a bank or broker will receive instructions or
payment directly from their bank or broker.
About American Physicians Capital Inc.
American Physicians Capital, Inc. is a regional provider of
medical professional liability insurance focused primarily in the
Midwest and New Mexico markets through American Physicians
Assurance Corporation and its other subsidiaries. Further
information about the companies is available on the Internet at
http://www.apcapital.com.
American Physicians Capital (NASDAQ:ACAP)
Historical Stock Chart
From Jul 2024 to Aug 2024
American Physicians Capital (NASDAQ:ACAP)
Historical Stock Chart
From Aug 2023 to Aug 2024