Pac Rim Amends Merger Agreement
- Share via
Pac Rim Holding Corp., a Woodland Hills workers’ compensation insurer, said it has amended its merger agreement with Superior National Insurance Group Inc.
The agreements now states that Pac Rim will be acquired for about $42 million, resulting in payment of $2.11 per share to common shareholders.
The price was renegotiated and reduced by $12 million to allow for an adjustment in reserves at Pac Rim subsidiary, the company said.
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
