Mergers & Acquisitions

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Deal Overview

Buyer:
General Motors Corporation
Actual Acquirer:
Motors Insurance Corporation
Target:
MEEMIC Insurance Company
Deal Type:
Insurance Company
Insurance Sector
Property & Casualty
Agreement Date:
11/4/2005
Announcement Date:
11/4/2005
Announced Deal Value ($ M):
327.00
Announced Deal Value, As Reported ($ M)
400.00
Status:
Completed
Announced Deal Value Per Share ($ )
NA
Completion Date:
1/4/2006

Consideration Breakout
Cash ($M) 325.0

Deal Terms
Description of Consideration

General Motors Corporation paid $325.0 million in cash to acquire MEEMIC Insurance Company. ProAssurance will also retain $75.0 million of the capital currently at MEEMIC.

Percent Acquired (%) 100.00
Accounting Method Purchase
Merger of Equals? No
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) NA
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes Philo Smith & Co.
Seller Yes Cochran Caronia Waller LLC
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Foley & Lardner LLP
Seller Yes Burr & Forman LLP
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