POTENTIAL DEAL DETAILS
|Stock||EMC Insurance Group Inc||Symbol||EMCI|
|Date Announced||11/16/2018||Source||Press Release|
|Type||Unsolicited Bid||Acquiring Company/Person||Employers Mutual Casualty Company|
|Date of Confirmation:||05/09/2019||Price at Confirmation:||$36.00|
|Potential Profit:||15.20%||Annualized Profit:||31.89%|
Employers Mutual Casualty Company announced today that it has proposed to acquire all of the outstanding shares of common stock of EMC Insurance Group Inc. (EMCI) that EMCC does not already own for $30 per share in cash, which represents a 26% premium over EMCI’s closing stock price on Nov. 14, 2018 and almost a 13% premium to EMCI’s book value per share.
January 09, 2019: The Special Committee is considering and evaluating the Proposal. The Special Committee cautions the Company’s stockholders and others considering trading in the Company’s common stock that no decisions have been made with respect to the Company’s response to the Proposal.
May 09, 2019: Employers Mutual Casualty Company and EMC Insurance Group Inc. (EMCI) today announced that, following an extensive and thorough negotiation process conducted by an independent Special Committee of the EMCI Board of Directors, they have entered into a definitive merger agreement pursuant to which EMCC, which currently owns approximately 55% of EMCI’s outstanding shares, will acquire all of the remaining shares of EMCI for $36.00 per share in cash.
Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.