James River Group investors OK merger with D.E. Shaw

By Susanna Moon

Chicago, Nov. 6 - James River Group, Inc. shareholders approved the company's proposed acquisition by a Bermuda-based holding company and member of the D.E. Shaw group at a special meeting on Tuesday.

More than 99% of votes cast were in favor of the acquisition, according to a press release.

Upon the close of the deal, James River stockholders will get $34.50 per share in cash. The total value of the deal is $575 million.

The company previously said it planned to pay regular quarterly cash dividends until the transaction closes.

James River is an insurance holding company based in Chapel Hill, N.C.

D.E. Shaw is an investment and technology development firm based in New York.

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