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Read more: Local, State, Politics, Health, Business, Consumer, Pinnacol Assurance, Denver, Workers Compensation, Morgan Stanley
DENVER (AP) — The state-chartered workers' compensation insurance fund that wants to be privatized has increased its offer to the state. Pinnacol Assurance President Ken Ross said Thursday the company is offering $330 million to the state so it can go private. That's $130 million more than it offered earlier for a buyout. The increased offer comes a week after the release of an analysis from financial-services firm Morgan Stanley that said the quasi-governmental agency was worth as much as $374 million to the state, nearly twice the amount Pinnacol had originally offered. Lawmakers who would have to approve a buyout say any deal will probably have to wait until next year. (Copyright 2010 The Associated Press. All Rights Reserved.)
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