American Physicians Capital, Doctors Co. Merger Completed

Health care liability insurance provider American Physicians Capital Inc., based in East Lansing, Mich., announced the completion of the merger pursuant to which APCapital became a wholly owned subsidiary of The Doctors Company, a large national insurer of physician and surgeon medical liability.

On July 7, 2010, 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. 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 ceased to trade on the Nasdaq Stock Market at the close of business on Oct. 22.

Source: APCapital