ProAssurance leaps on $1.3 billion go-private deal
ReutersMar 20, 2025 10:49 AM
Shares of specialty insurer ProAssurance PRA.N rise 50.6% to $23.41 premarket
On Wednesday, Doctors Company, a medical malpractice insurer, has agreed to buy PRA for $1.3 billion, the cos said
PRA shareholders will get $25/shr, a 60.9% premium to stock's last close
PRA will no longer be listed on the New York Stock Exchange and will become a subsidiary of Doctors Company
Deal expected to close in H1 of 2026, creating a combined co with $12 billion in assets
PRA gained 30% in the last 12 months
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