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News

Reported Earlier, Mutual Capital Group To Acquire ICC Holdings For $73.8M In All-Cash Deal Offering 48% Premium

Author: Benzinga Newsdesk | June 10, 2024 03:10am
  • All-cash transaction provides significant premium, delivering substantial and certain value to shareholders of ICC Holdings, Inc.
  • ICC Holdings, Inc. and its subsidiaries will continue to operate as an independent entity with increased support from Mutual Capital Group.

The transaction, which was unanimously approved by both boards of directors, represents a total equity value of approximately $73.8 million. The acquisition price represents a multiple of 1.07 times ICCH's book value at March 31, 2024, a 48% premium to ICCH's volume weighted average stock price over the last 30 days and a 42% premium to ICCH's 52-week high closing price.

Posted In: ICCH