SOUTHFIELD, Mich. (AP) -- Meadowbrook Insurance Group Inc. on Tuesday detailed stockholders allocations in its $220.2 million cash-and-stock takeover of property and casualty insurance provider ProCentury Corp.ProCentury shareholders seeking cash from the deal will receive $20 per share for about 40.6 percent of the shares and 2.5 shares of Meadowbrook common stock for each remaining ProCentury share held.
ProCentury shareholders who elected to take stock will receive 2.5 shares of Meadowbrook common stock for each ProCentury share held.
Meadowbrook said it will not issue any fractional shares. Instead, ProCentury shareholders will receive cash at a rate of about $5.73 per share.
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