Market Overview

ACAP Climbs On Its Acquisition Deal

ACAP Climbs On Its Acquisition Deal

Shares of American Physicians Capital Inc (NASDAQ: ACAP) jumped after The Doctors Company signed a deal to acquire ACAP.

The East Lansing, Michigan-based company will be acquired by The Doctors Company for a total price of about $386 million, or $41.50 per share, in cash. The deal price represents a 31% premium to the ACAP’s shares over its yesterday’s closing price of $31.76.

ACAP’s shares have gained 5.37% year-to-date and moved up 0.54% over the previous week.

American Physicians Capital advanced 28.02% to $40.66 at 12:41 pm.

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