Kemper (NYSE:KMPR) and Infinity Property and Casualty (NASDAQ:IPCC) say the anticipated deadline for Infinity shareholders to elect whether they want to receive their merger consideration in stock, cash, or a combination is June 18, 2018, 5 p.m. EDT.
Infinity shareholders who don't make a valid election by the deadline will be considered as electing the mixed consideration for all of their Infinity shares.
The election deadline may be changed, in which case the two companies will issue a press release announcing the new deadline.
The three options per IPCC share are: mixed consideration of $51.60 cash and 1.2019 KMPR shares; stock consideration of 2.0031 KMPR shares; or cash consideration of $129.00.
Source: Press Release
Previously: Kemper, Infinity shareholders approve moves to set up merger (June 1)
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