ProAssurance to Buy Eastern for $205 Million in Workers Comp Bet

ProAssurance Corp. (PRA), the seller of medical liability protection, agreed to buy Eastern Insurance Holdings for about $205 million to expand in workers’ compensation coverage.

The deal values Eastern at $24.50 a share, compared with yesterday’s closing price of $21.16, and is expected to be completed by Jan. 1, Birmingham, Alabama-based ProAssurance said today in a statement distributed by PR Newswire.

To contact the reporter on this story: Marci Jacobs in New York at Mjacobs63@bloomberg.net

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net

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