American Physicians Capital (APCapital), a provider of health care liability insurance, has completed completion the merger pursuant to which APCapital became a wholly owned subsidiary of The Doctors Company, an insurer of physician and surgeon medical liability.
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 on 7 July 2010.
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, 22 October 2010, and will thereafter be delisted.