Burr & Forman Reps ProAssurance In $233M APA Deal

Law360, New York (September 1, 2010, 2:16 PM EDT) -- ProAssurance Corp. said Wednesday that it had agreed to shell out $32.50 per share — about $233 million — to snap up American Physicians Service Group Inc., a bid the medical professional liability insurance writer said would expand its footprint in the vital Texas medical market.

The all-cash transaction is expected to close by the end of the year and has been given the go-ahead from the board of directors of Austin, Texas-based APS, which offers medical liability insurance.

ProAssurance, based in Birmingham, Ala., said it...
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