* The Doctors Co offers $41.50 per American Physician share
* Offer represents 31 pct premium
* American Physicians shares up 34 pct
July 8 American Physicians Capital Inc ACAP.O
agreed to be bought by a private insurer and a physician and
surgeon medical liability, for about $386 million, sending its
shares up 34 percent.
Shares of the healthcare liabilities provider touched a new
life-high at $42.455 Thursday on Nasdaq, surpassing the offer
The $41.50 per share offer from The Doctors Co of American
Physicians represents a 31 percent premium to the stock's
closing price of $31.76 Wednesday.
The deal expands the private firm's position as the largest
national insurer of physician and surgeon medical liability to
nearly 55,000 insured members, American Physicians said in a
statement. American Physicians' board approved the offer and
the deal is expected to close in the fourth quarter of 2010.
Shares of the company were up 28 percent at $40.66 in
afternoon trade Thursday on Nasdaq.
(Reporting by Vidya L Nathan in Bangalore; Editing by