ProAssurance leaps on $1.3 billion go-private deal
20/03/2025 10:49
** Shares of specialty insurer ProAssurance PRA.N rise 50.6% to $23.41 premarket ** On Wednesday, Doctors Company, a medical malpractice insurer, has agreed to buy PRA for $1.3 billion, the cos said ** PRA shareholders will get $25/shr, a 60.9% premium to stock's last close ** PRA will no longer be listed on the New York Stock Exchange and will become a subsidiary of Doctors Company ** Deal expected to close in H1 of 2026, creating a combined co with $12 billion in assets ** PRA gained 30% in the last 12 months (Reporting by Kamal Choudhury in Bengaluru) ((Kamal.Choudhury@thomsonreuters.com;))