Why Insurance Company ICC Holdings Shares Are Jumping Today
Why Insurance Company ICC Holdings Shares Are Jumping Today
ICC Holdings, Inc. (NASDAQ:ICCH) shares are jumping today after the company inked a definitive deal to be acquired by Mutual Capital Group, Inc. for a total equity value of around $73.8 million.
保险业ICC Holdings, Inc.（纳斯达克：ICCH）股票今天大涨，公司与Mutual Capital Group，Inc.签署明确协议，将以约7,380万美元的总股本价值收购该公司。
As per the terms, MCG will acquire all outstanding ICCH shares for $23.50 in cash, representing a multiple of 1.07 times ICCH's book value as of March-end.
根据协议条款，MCG将现金以23.50美元的价格收购ICCH的全部流通股，这相当于1.07倍ICCH的三月底账面价值。
The price represents a 48% premium to ICCH's volume-weighted average stock price over the last 30 days and a 42% premium to ICCH's 52-week high closing price.
该价格相当于ICCH过去30天成交量加权平均股价的溢价率达48％，相对于ICCH52周收盘价最高价的溢价率达42%。
The transaction is anticipated to conclude in the fourth quarter of 2024, pending customary closing conditions.
交易预计将于2024年第四季度完成，取决于通常的交割条件。
Following the closing, ICCH will maintain its operations as an independent subsidiary of MCG. Additionally, directors and executive officers of ICCH, collectively holding 25% of ICCH common stock, have expressed their intention to vote in favor of the transaction.
交易完成后，ICCH将作为MCG的独立子公司继续运营。此外，ICCH的董事和高管共持有ICCH普通股25％，他们已表达了支持交易的意向。
Also, Tuscarora Wayne Insurance Company, a subsidiary of MCH and holder of 6.4% of ICCH common stock, plans to vote its shares in favor of the transaction.
此外，MCG的子公司Tuscarora Wayne Insurance Company持有ICCH普通股的6.4％，计划支持该交易。
Price Action: ICCH shares are up 37.7% at $22.03 at the last check Monday.
股价表现：截至周一最后一次查询，ICCH股价上涨37.7％，报22.03美元。
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
免责声明：本文部分内容使用了Benzinga Neuro的帮助。此内容是通过AI工具部分制作的，并由Benzinga编辑进行了审查和发布。
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