Mergers & Acquisitions

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Deal Overview

Buyer:
ProAssurance Corporation
Actual Acquirer:
ProAssurance Corporation
Target:
Physicians Insurance Company of Wisconsin, Inc.
Deal Type:
Insurance Company
Insurance Sector
Property & Casualty
Agreement Date:
12/8/2005
Announcement Date:
12/8/2005
Announced Deal Value ($ M):
98.71
Announced Deal Value, As Reported ($ M)
98.71
Status:
Completed
Announced Deal Value Per Share ($ )
5,000.00
Completion Date:
7/31/2006

Consideration Breakout
Common Stock ($M) 98.7
Common Stock Issued 1,991,481

Deal Terms
Description of Consideration

ProAssurance paid $5,000.00 per share and a small amount of cash to acquire Physicians Insurance Co. of Wisconsin.

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 Morgan Keegan & Co. LLC
Seller Yes Cochran Caronia Waller LLC
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Boardman & Clark LLP
Seller Yes Quarles & Brady LLP
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