Business News • MarketWire • Bancinsurance Corporation Signs Merger Agreement to Be Acquired for $8.50 per Common Share in Cash |
Bancinsurance Corporation Signs Merger Agreement to Be Acquired for $8.50 per Common Share in Cash |
|
|
Bancinsurance Corporation Signs Merger Agreement to Be Acquired for $8.50 per Common Share in Cash
COLUMBUS, OH--(Marketwire - August 11, 2010) - Bancinsurance Corporation (OTCBB: BCIS) ("Bancinsurance"), a specialty property and casualty insurance holding company, announced today that on August 10, 2010 it entered into a definitive merger agreement to be acquired for $8.50 per common share in cash by a company that will be owned at the time of the merger by John S. Sokol (the Chairman of the Board, Chief Executive Officer and President of Bancinsurance), Barbara K. Sokol, James K. Sokol, Carla A. Sokol, Falcon Equity Partners, L.P., Matthew D. Walter (a member of the Board of Directors of Bancinsurance), Daniel J. Clark, Joseph E. LoConti, Edward Feighan and Charles Hamm (collectively the "Proposing Persons") -- the Bancinsurance shareholders who have previously submitted proposals to Bancinsurance's Board of Directors to take Bancinsurance private. The Proposing Persons collectively beneficially own approximat
View More : http://www.marketwire.com/mw/release.do?id=1303609&sourceType=3
|
|
|