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Article: Medical Assurance Announces Preliminary Results of Portfolio Adjustment Calculation for Professionals Group Transaction.
- Article from:
- Business Wire
- Article date:
- May 25, 2001
CopyrightCOPYRIGHT 2001 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors
BIRMINGHAM, Ala.--(BUSINESS WIRE)--May 25, 2001
Medical Assurance, Inc. (NYSE:MAI) announced today that preliminary calculations show the portfolio adjustment amount (the "Adjustment Amount") to be used in the consolidation with Professionals Group is expected to fall within a range of $1.40 to $1.50 per share if the transaction closes, as expected, before June 30, 2001.
Medical Assurance, Inc. and Professionals Group are combining to form ProAssurance Corporation, which will be the third largest writer of medical professional liability insurance in the country. Shareholders of Medical Assurance and Professionals Group have been ...