National Interstate Corporation Announces Formation of Special Committee to Review Proposal by American Financial Group, Inc.
Get Alerts NATL Hot Sheet
Join SI Premium – FREE
RICHFIELD, Ohio, April 06, 2016 (GLOBE NEWSWIRE) -- National Interstate Corporation (Nasdaq: NATL) (National Interstate) announced that its board of directors appointed a special committee to consider the March 7, 2016, proposal from American Financial Group, Inc. (NYSE: AFG) to acquire all of the outstanding common shares of National Interstate not currently owned by AFG’s wholly-owned subsidiary, Great American Insurance Company, for $30.00 per share in cash.
The special committee is comprised of the following National Interstate directors: Norman L. Rosenthal (Chair), I. John Cholnoky, Patrick J. Denzer, Donald W. Schwegman, and Alan R. Spachman.
Willkie Farr & Gallagher LLP will serve as the independent legal advisor to the special committee to assist in its review of the proposed transaction.
About National Interstate Corporation National Interstate Corporation (Nasdaq: NATL), founded in 1989, is the holding company for a specialty property-casualty insurance group which offers products and services designed to meet the unique needs of niche markets. Products include insurance for passenger, truck, and moving and storage transportation companies, alternative risk transfer, or captive programs for commercial risks, specialty personal lines products focused primarily on recreational vehicle owners, and transportation and general commercial insurance in Hawaii and Alaska. The Company's insurance subsidiaries, including the three primary insurers, National Interstate Insurance Company, Vanliner Insurance Company and Triumphe Casualty Company, are rated "A" (Excellent) by A.M. Best Company. Headquartered in Richfield, Ohio, National Interstate is an independently operated subsidiary of Great American Insurance Company, a property-casualty subsidiary of American Financial Group, Inc. (NYSE: AFG).
Contact: Gary Monda Vice President & Chief Investment Officer National Interstate Corporation 877-837-0339 [email protected] www.natl.comSource: National Interstate Corp.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- IBM tumbles on soft Q1 revenue; announces HashiCorp $6.4bn acquisition
- T-Mobile (TMUS) and EQT Announce JV to Acquire Lumos
- Standard BioTools (LAB) Announces Operational Restructuring Plan, Cuts 10% Staff
Create E-mail Alert Related Categories
Press ReleasesRelated Entities
AM Best Company, Definitive AgreementSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!