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- For each Unionamerica share, investors will receive 83.6 percent of an MMI share.
- Unionamerica Holdings PLC, London, an initial public offering of 3.8 million American depository shares ( each represents one ordinary share ).
- The purchase price would equal $ 22.15 a share, a premium of 14 percent premium over Unionamerica's current market price.
- The transaction requires approvals from U . S . and U . K . regulators, and from 90 percent of Unionamerica's shareholders.
- MMI Cos . said it would pay $ 194 million in stock to buy Unionamerica Holdings Plc, a London-based provider of specialty insurance and reinsurance.