Celadon Group Inc: Key Developments
Mapfre, S.A. Completes Acquisition Of The Commerce Group, Inc.
June 4, 2008 |
| Mapfre, S.A. and The Commerce Group, Inc. jointly announced that MAPFRE has completed its acquisition of The Commerce Group, Inc. MAPFRE paid $36.70 in cash per share of The Commerce Group, Inc.'s publicly traded stock, with total merger consideration of $2,211 million, as of the date of the closing. |
The Commerce Group, Inc. Approves Quarterly Dividend
February 14, 2008 |
| The Commerce Group, Inc. announced that the Board of Directors has quarterly cash dividend of $0.30 per share on the issued and outstanding common stock of the Company, payable March 7, 2008 to shareholders of record at the close of business on February 25, 2008. |
The Commerce Group, Inc. Approves Quarterly Dividend
November 16, 2007 |
| The Commerce Group, Inc. announced that its Board of Directors approved a quarterly cash dividend of $0.30 per share on the issued and outstanding common stock of the Company, payable December 10, 2007, to shareholders of record at the close of business on November 26, 2007. |
MAPFRE Reaches Agreement to Acquire The Commerce Group, Inc.
October 31, 2007 |
| The Commerce Group, Inc. announced that it has reached a merger agreement by which MAPFRE will acquire 1005 of the share capital of the Company for EUR 1,538 million ($2,207 million). The agreement foresees the merger of the Company with a US subsidiary of MAPFRE. Once carried out, the shareholders of the Company will receive $36.70 per share. MAPFRE will pay the consideration entirely in cash, which it plans to finance through an equity capital raising of EUR 500 million ($718 million), the issuance of bonds up to EUR 800 million ($1,148 million), with the balance coming from internal resources. MAPFRE, present in 40 countries, is an insurer in Spain. |
The Commerce Group, Inc. Approves Quarterly Dividend
August 17, 2007 |
| The Commerce Group, Inc. announced that it has approved a quarterly cash dividend of $0.30 per share on the issued and outstanding common stock of the Company, payable September 12, 2007 to shareholders of record at the close of business on August 27, 2007. |
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