HCC Insurance approves acquisition by Tokio Marine
Wednesday, 09 23 2015, Category: Insurance and Reinsurance, Country: World
HCC Insurance Holdings (HCC) announced that stockholders voted during a special meeting held in Houston to adopt the merger agreement entered into on June 10, 2015 with Tokio Marine Holdings, whereby Tokio Marine agreed to acquire all of the outstanding shares of HCC for $78.00 in cash per share.
More than 99% of the votes cast were in favor of the merger agreement and the merger. Completion of the merger remains subject to approval by relevant regulatory authorities in the United States, the United Kingdom and Japan, as well as customary closing conditions.
Source: Insurance Business Review