Specialty insurer Rockhill Holding Company is acquiring Minneapolis-based RTW Inc. in a $67.6 million deal, it was announced today by the two carriers.
Rockhill, in Kansas City, Mo., will acquire all outstanding shares of RTW stock for $12.45 per share in cash. After the merger, RTW, which offers workers' compensation insurance and services, will continue to operate as a separate wholly owned subsidiary of Rockhill, the firms said.
The proposed transaction, the companies said, has been unanimously approved by the boards of both companies and is subject to customary closing conditions, regulatory reviews and approvals, and approval by the shareholders of RTW.
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