Scpie (NYSE:SKP)
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From Jul 2019 to Jul 2024
SCPIE Holdings Inc. (NYSE:SKP), a major provider of healthcare
liability insurance, today announced that, with regard to the merger of
SCPIE Holdings Inc. into a wholly owned subsidiary of The Doctors
Company, the California Department of Insurance has concluded its review
and closed its file without disapproval, thereby authorizing the
acquisition. Closing is expected to take place on Monday, June 30, at
which time SCPIE Holdings will be delisted from the New York Stock
Exchange.
Effective as of the closing of the merger, each outstanding share of
SCPIE common stock will represent the right to receive $28.00 per share
in cash, without interest.
Additional information on SCPIE Holdings and the merger can be found on
the Company’s website: www.scpie.com.
Forward-Looking Statements
This news release contains forward-looking statements that involve
material risks and uncertainties. Such forward-looking statements,
including, but not limited to, statements relating to the consummation
of the proposed transaction and the terms and timing thereof, are
subject to change based on factors beyond the control of SCPIE. Risks
and uncertainties regarding the transaction include the possibility that
the closing does not occur, or is delayed, either due to the failure of
closing conditions, including the failure to obtain required regulatory
approvals, or other reasons. Other factors that may cause actual results
to differ from the forward-looking statements contained herein and that
may affect the Company’s prospects are
included in the Company’s other filings with
the SEC. SCPIE expressly disclaims any obligation to publicly release
any updates or revisions to any such forward-looking statement to
reflect any change in its expectations or any change in events,
conditions or circumstances on which any such statement is based.