Mutual Capital Group Announces Closing of All-Cash Merger with ICC Holdings, Inc.
Summary
As part of the transaction, each share of ICCH common stock issued and outstanding immediately prior to the effective time of the merger was converted into the right to receive $23.50 in cash. Reiner R. Mauer, President and Chief Executive Officer of MCH, stated, " This acquisition marks the convergence of two visionary organizations, united in their commitment to seeking excellence. Arron K. Sutherland, President and Chief Executive Officer of ICCH, added, “ This merger represents a powerful combination of two high-quality companies. The organizations’ shared capabilities will build upon their existing strengths and enhance MCG’s insurance platform, capitalizing on collective talents and resources across both entities to drive future success. ICC Holdings, Inc., based in Rock Island, Illinois, is the parent company of Illinois Casualty Company, Estrella Innovative Solutions, Southern Hospitality Education dba Katkin, Beverage Insurance Agency dba Beverage Insurance Specialty, Two Rivers Investments, Two Rivers Properties, and ICC Re.