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Tiptree Financial buying Fortegra Financial in $218M all-cash deal

Aug. 12, 2014 7:43 AM ETFortegra Financial Corporation (FRF-OLD) StockBy: Stephen Alpher, SA News Editor
  • Fortegra (NYSE:FRF-OLD) owners will receive $10 in cash for share of Fortegra common they own, a 42% premium to last night's close of $7.02.
  • The boards of both companies have approved the deal and owners representing about 62% of the shares of Fortegra have executed a written consent adopting and approving the merger agreement.
  • The deal is expected to close late this year or early next.
  • Tiptree (TIPT+11.2% premarket
  • Source: Press Release

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