Unitrin, Inc. and Milwaukee Insurance Group sign definitive acquisition agreements.MILWAUKEE--(BUSINESS WIRE)--Aug. 17, 1995--Richard C. Vie, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Unitrin, Inc., Chicago, Illinois, and Daniel R. Doucette, President and CEO of the Milwaukee Insurance Group, announced today that the companies have entered into a definitive acquisition agreement providing for the acquisition of Milwaukee Insurance Group, Inc. (MIG) by Trinity Universal Insurance Company, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Unitrin, for $22 per share in cash, or approximately $94 million. As a part of the transaction, MIG's affiliated company, Milwaukee Mutual Insurance Company, has entered into agreements with Unitrin relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the pooling of insurance for the respective companies and other affiliation arrangements. The transaction is subject to certain insurance and other regulatory approvals and approval of MIG's shareholders. It is anticipated that the acquisition will be completed in early October, 1995. Headquartered in Milwaukee, Wisconsin For other places with the same name, see Milwaukee (disambiguation). Milwaukee is the largest city within the state of Wisconsin and 25th largest (by population) in the United States. with branch offices throughout the Midwest, MIG is a holding company engaged through its subsidiaries in the business of property and casualty insurance. Unitrin is engaged in life and health insurance through United Insurance Company of America and its subsidiaries; property and casualty insurance through Trinity Universal Insurance Company and its subsidiaries; and the consumer finance business through Fireside Thrift Co. Shares of Unitrin and MIG trade on the NASDAQ Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. under the symbols UNIT and MILW MILW Milwaukee Road (symbol name on freight cars for the Chicago, Milwaukee, St. Paul & Pacific) . CONTACT: For Unitrin: MacKenzie Partners, Inc. Stanley J. Kay, Jr., 212/929-5940 OR Milwaukee Insurance Group Daniel R. Doucette, 414/271-0525 ext. 2600 |
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