Employers Holdings Inc. has acquired AmCOMP Incorporated. The transaction is valued at approximately $223.5 million, including the assumption of approximately $35.1 million in debt.

The acquisition expands Employers' workers' compensation insurance operations to 29 states and 17 branch offices.

Under the terms of the merger, holders of AmCOMP's approximately 15 million common shares received $12.15 in cash for each share. Employers financed the purchase price through a combination of cash and debt.

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