Insurer ProAssurance soars on $1.3 billion buyout deal with Doctors Company
19/03/2025 20:39
** Specialty insurer ProAssurance's PRA.N shares jump 52.3% to $23.71 in extended trade ** Medical malpractice insurer Doctors Company has agreed to buy PRA in a $1.3 billion deal, the companies say ** PRA shareholders will receive $25 in cash for each share held, representing 60.9% premium to stock's last close ** Deal expected to close in the first half of 2026 ** PRA has expertise in medical liability, products liability for medical technology and life sciences, and workers' compensation insurance ** As of last close, PRA stock down 2% YTD (Reporting by Arasu Kannagi Basil in Bengaluru) ((ArasuKannagi.Basil@thomsonreuters.com;))