Midland Company, the Cincinnati-based specialty insurer, announced that shareholders at a special meeting today approved the company's acquisition by Munich Re in a deal worth $1.27 billion.
Under terms of the agreement, Munich will acquire the company through its subsidiary, Munich-American Holding Corp., and Midland shareholders will receive $65 per share.
The transaction is expected to close on or about April 3, after certain remaining conditions are satisfied, Midland said.
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