North Pointe Holdings Corporation, a property and casualty insurer, has announced that its stockholders have approved its merger agreement with QBE Holdings.
The closing of the merger remains subject to the satisfaction or waiver of all closing conditions, including the receipt of all required regulatory approvals. North Pointe expects the transaction to be completed before the end of May 2008.
Following the closing of the merger, North Pointe’s stockholders will be entitled to receive $16 per share in cash, without interest, for each share of North Pointe common stock held.