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

VIDEO: Why is an “A”-rated company important when buying medical malpractice insurance?

The difference between claims made and occurrence coverage for doctors.

What is a physician’s loss history, and how does it affect malpractice insurance prices?

Popular Posts

PIAA 2017: Current Trends & Future Concerns

Oregon Supreme Court Strikes Down Noneconomic Damage Cap

New Report: Best and Worst States for Doctors

Start Your Custom Quote Process™

Request a free quote