Employers Mutual Casualty Co. has completed the acquisition of all of the remaining EMC Insurance Group Inc. shares that it did not already own for $36.00 apiece.
The completion comes after the satisfaction of all closing conditions, including the approval of the deal by EMC Insurance's shareholders.
As a result of the closing of the transaction, EMC Insurance's common shares are no longer listed for trading on the Nasdaq Stock Market, effective at the Sept. 19 close of trading.
Sandler O'Neill & Partners LP was the financial adviser, and Willkie Farr & Gallagher LLP was legal counsel to EMC Insurance's special committee. Boenning & Scattergood Inc. provided financial advice to Employers Mutual's board, while Foley & Lardner LLP was legal counsel to the company.
