SCPIE Holdings Announces California Department of Insurance Has Authorized Acquisition of SCPIE Holdings Inc. by The Doctors Com
June 26 2008 - 7:26PM
Business Wire
SCPIE Holdings Inc. (NYSE:SKP), a major provider of healthcare
liability insurance, today announced that, with regard to the
merger of SCPIE Holdings Inc. into a wholly owned subsidiary of The
Doctors Company, the California Department of Insurance has
concluded its review and closed its file without disapproval,
thereby authorizing the acquisition. Closing is expected to take
place on Monday, June 30, at which time SCPIE Holdings will be
delisted from the New York Stock Exchange. Effective as of the
closing of the merger, each outstanding share of SCPIE common stock
will represent the right to receive $28.00 per share in cash,
without interest. Additional information on SCPIE Holdings and the
merger can be found on the Company�s website: www.scpie.com.
Forward-Looking Statements This news release contains
forward-looking statements that involve material risks and
uncertainties. Such forward-looking statements, including, but not
limited to, statements relating to the consummation of the proposed
transaction and the terms and timing thereof, are subject to change
based on factors beyond the control of SCPIE. Risks and
uncertainties regarding the transaction include the possibility
that the closing does not occur, or is delayed, either due to the
failure of closing conditions, including the failure to obtain
required regulatory approvals, or other reasons. Other factors that
may cause actual results to differ from the forward-looking
statements contained herein and that may affect the Company�s
prospects are included in the Company�s other filings with the SEC.
SCPIE expressly disclaims any obligation to publicly release any
updates or revisions to any such forward-looking statement to
reflect any change in its expectations or any change in events,
conditions or circumstances on which any such statement is based.
Scpie (NYSE:SKP)
Historical Stock Chart
From Jun 2024 to Jul 2024
Scpie (NYSE:SKP)
Historical Stock Chart
From Jul 2023 to Jul 2024