Proxy Firm Recommends SCPIE Acquisition

© 2008 The Associated Press

LOS ANGELES — SCPIE Holdings Inc. said Monday a proxy advisory firm recommended shareholders vote in favor of the $268.8 million acquisition of the medical malpractice insurance provider by The Doctors Co.

SCPIE said Glass Lewis & Co. found that the offer gives shareholders “financially fair consideration” for their shares. Shareholders are scheduled to vote on March 26.

Under the agreement, Doctors, a physician-owned medical malpractice carrier, will buy SCPIE for $28 per share in cash. The company valued the total purchase price at $281 million.

After the deal is completed, Doctors will be the largest insurer of physician and surgeon liability insurance in the U.S., the company said.

SCPIE shares were unchanged at $27.36 in afternoon trading.

see original

You may also like

Legislative panel approves medical malpractice bill
Read more
Urgent-care centers: Illinois numbers grow as time-pressed families seek low-cost option to ERs
Read more
Global Center for Medical Innovation launches
Read more

Recent Posts

California Healthcare Providers, Trial Attorneys, Legislators Reach Deal to Increase MICRA Cap

Corporate Acquisitions Accelerating Surge in Employed Physicians

AM Best Maintains Negative Outlook for MPL Segment in 2022, Cites Rising Loss Costs, Increasing Severity, Diminished Reserves

Popular Posts

PIAA 2017: Current Trends & Future Concerns

2022 Medical Malpractice Insurance Rates: What the data tells us

Global Center for Medical Innovation launches

Start Your Custom Quote Process™

Request a free quote