Dallas-based .’s stockholders approved the previously-announced merger agreement providing for the merger of Republic and a wholly-owned subsidiary of Delek Capital Ltd., Republic announced.
Delek Capital is a majority-owned subsidiary of Delek Group Ltd.
All governmental and regulatory consents and approvals, the receipt of which is a condition precedent to the consummation of the merger, have been obtained, according to the announcement.
Republic and Delek expect to complete the proposed merger this month, provided that certain conditions are satisfactorily met. Upon completion of the proposed merger, Republic will become an indirect wholly-owned subsidiary of Delek Capital and Republic’s stockholders that do not exercise appraisal rights will be entitled to receive $20.40 in cash, without interest, for each share of common stock they own immediately prior to the effective time of the merger.
Republic also announced that its voluntary delisting from the Nasdaq Global Market will become effective as of the close of trading on the date the merger is completed. In addition, Republic will file a Form 15 with the Securities and Exchange Commission on the date the merger is completed to deregister its common stock, thereby immediately suspending its obligation to file annual and other reports with the SEC.
Source: Republic Companies Group
Topics Mergers & Acquisitions
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