Old Republic International Corporation acquired PMA Capital Corporation (NASDAQ: PMACA) for USD 365 million, a transaction announced in October 2010.
All-stock merger (0.55 ORI shares per PMA share) that added PMA's workers' compensation and commercial specialty insurance operations, deepening Old Republic's general-insurance segment; PMA continued operating as 'the PMA Companies' from Blue Bell, PA.
All-stock merger (0.55 ORI shares per PMA share) that added PMA's workers' compensation and commercial specialty insurance operations, deepening Old Republic's general-insurance segment; PMA continued operating as 'the PMA Companies' from Blue Bell, PA.
The transaction therefore attributes a total enterprise value for PMA of approximately $365 million, consisting of $228 million for PMA common shares and $137 million for its debt.
Advisory firms were not disclosed for this transaction.