Posted on 23 Sep 2010
PMA Capital Corp. announced on Wednesday that its shareholders have voted to adopt the agreement and plan of merger, dated as of June 9, among PMA Capital, Old Republic International Corp. and a wholly owned subsidiary of Old Republic.
PMA Capital has now received all shareholder and regulatory approvals necessary to proceed with the closing of the merger. The merger is expected to close on October 1.
Under the terms of the deal, shareholders of PMA will receive 0.55 shares of Old Republic common stock for each share of PMA Capital common stock, subject to potential adjustment based on the market price of Old Republic's common stock as described in the merger agreement.