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ProAssurance Shares Rise After Saying It Expects Doctors Company Merger to Close by June 30

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ProAssurance (PRA) shares were up 1.9% in Wednesday afternoon trading, a day after the company said it continues to expect its merger with The Doctors Company to close by June 30, as the transaction awaits final regulatory approval in California.

The timing of the California review remains uncertain and is outside its control, ProAssurance said in a late Tuesday filing.

As of Tuesday, The Doctors Company had received final approval from insurance regulators in Alabama, the District of Columbia, Illinois, Missouri, Pennsylvania, Texas and Vermont, according to the filing.

ProAssurance said it also secured approvals from Lloyd's of London and the Cayman Islands Monetary Authority for certain subsidiaries involved in the transaction.

Price: $24.45, Change: $+0.47, Percent Change: +1.94%

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