February 14, 2008
Commerce Shareholders Approve Merger
By Matthew L. Brown
Shareholders of Webster-based Commerce Group Inc. have approved the $2.2 billion sale of the company to Spanish insurance giant Mapfre.
The two companies agreed to the merger in October. Commerce expects the deal to close before the end of the second quarter. Commerce shareholders will be entitled to $36.70 per share when the deal closes.
The merger is still subject to approval by regulatory agencies in Massachusetts, California, New York and Ohio.
The two companies agreed to the merger in October. Commerce expects the deal to close before the end of the second quarter. Commerce shareholders will be entitled to $36.70 per share when the deal closes.
The merger is still subject to approval by regulatory agencies in Massachusetts, California, New York and Ohio.
WBJ Web Partners
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