ICC Holdings Jumps In Pre-market On News Of Acquisition By Mutual Capital

(RTTNews) - Shares of ICC Holdings, Inc. (ICCH), an insurance holding company, were rising more than 50 percent in pre-market on Monday to $23.30, on the news of its being acquired by Mutual Capital Group, Inc. (MCG) for about $73.8 million to be paid in cash.

The purchase price of $23.50 per share represents a premium of 48 percent to ICCH's volume weighted average stock price over the last 30 days.

The transaction is expected to close in the fourth quarter of 2024.

ICC Holdings share had closed at $16.00, up 4.23 percent on Friday. The stock has traded in the range of $14.78 - $16.50 in the last 1 year.