Merger of SCPIE Holdings, Doctors Co. set to close Monday

By Lisa Kerner

Charlotte, N.C., June 27 - The California Department of Insurance granted its authorization in the proposed merger of SCPIE Holdings Inc. and the Doctors Co., clearing the way for the transaction to close on Monday.

SCPIE will be delisted from the New York Stock Exchange as of that date, a company news release said.

In October 2007, SCPIE agreed to be acquired by the Doctors Co. for $28 per share in cash, or approximately $281 million.

Los Angeles-based SCPIE provides health-care liability insurance for physicians and other health-care providers, medical groups and health-care facilities.

The Doctors Co. is a physician-owned medical malpractice insurer located in Las Vegas.

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