Best on October 19, 2012 and is in response to some of the remedial actions taken by MIGI
since its third quarter earnings announcement and reserve charge.
The Boards of Directors of MIGI and the Company have approved the merger.
Family Trust, which owns 60% of the outstanding common stock of the Company, has agreed to vote in favor of the merger pursuant to the terms of a Voting Agreement with MIGI dated as of January 31, 1996.
On April 10, 2001, the United States District Court for the Southern District of Indiana, Indianapolis Division, dismissed a lawsuit brought by MIGI
shareholder, Gregory M.
The motion asserts that, in agreeing to the merger agreement between Meridian Insurance Group and MIGI
Consummation of the transaction remains subject to certain conditions, including termination by Alliance in the event that the average trading price of the stock of MIGI
is less than $14.
is a holding company principally engaged in the property and casualty insurance business through its wholly owned subsidiaries, Meridian Security Insurance Company, Meridian Citizens Security Insurance Company, and Insurance Company of Ohio (ICO).
00 worth of MIGI
stock for each Goldwyn share, provided the average closing price of MIGI
stock over the 20 consecutive-day trading period ending five days prior to the consummation of the merger is between $12.
The terms of the merger agreement (which vary from those in the letter of intent entered into on November 30, 1995 between MIGI
and Alliance) provide that upon consummation of the merger Alliance shareholders will exchange each of their shares of Alliance common stock for (i) .
also announced that its Board of Directors met on September 21, 2000 and unanimously recommended that MIGI
's shareholders reject the amended offer.
Oman, President and Chief Executive Officer of MIGI
sent a letter to the shareholders on behalf of the Board of Directors summarizing the reasons for the Board's recommendation not to tender any of their shares.
John Kluge, chairman of MIGI
, said, "Motion Picture Corporation of America will be an extremely important asset to our entertainment operations and to the overall growth of MIGI