American Financial Group, Inc. Asks National Interstate Shareholders to Focus on Value of Offer, Base Decision on Facts
07 3월 2014 - 6:34AM
Business Wire
Best and Final Offer Delivers Compelling
Value
American Financial Group, Inc. (NYSE/NASDAQ: AFG) today issued
the following statement in response to a letter received today from
Alan R. Spachman:
- Today’s letter is another attempt by
Alan Spachman to prevent National Interstate shareholders from
receiving AFG’s all-cash offer of $30 per share of National
Interstate Corporation (NASDAQ: NATL).
- Our offer is, and always has been, in
the hands of shareholders, and it is up to them to make an informed
decision.
- Given Alan Spachman’s repeated attempts
to deny National Interstate shareholders the opportunity to decide
for themselves, shareholders should question his motives and
whether he has their best interest in mind.
- Contrary to Spachman’s allegations, we
have made abundant disclosures around this matter and have complied
with all applicable laws with regard to our offer.
- Our best and final all-cash offer of
$30.00 per share for any and all shares represents compelling value
for National Interstate shareholders.
AFG management and Board of Directors will continue to
vigorously defend the rights of National Interstate Shareholders to
tender into our offer. Two previous requests for injunctions in
Hamilton and Summit Counties have been denied and dismissed,
respectively.
Innisfree M&A Incorporated is the Information Agent for the
tender offer.
Additional Information
This press release is for informational purposes only and does
not constitute an offer to purchase or a solicitation of an offer
to sell National Interstate common stock. AFG and GAIC have filed a
Tender Offer Statement on Schedule TO and the Transaction Statement
on Schedule 13E-3, each as amended, with the Securities and
Exchange Commission (the "SEC"). National Interstate stockholders
and other interested parties are advised to read these filings and
other documents relating to the tender offer that have been or will
be filed with the SEC when they become available because they will
contain important information regarding the tender offer. Anyone
may obtain copies of these documents when available for free at the
SEC's website at www.sec.gov, or by calling Innisfree M&A
Incorporated, the Information Agent for the tender offer, toll free
at 1-888-750-5834.
About American Financial Group, Inc.
AFG is an insurance holding company, based in Cincinnati, Ohio
with assets in excess of $40 billion. Through the operations of
Great American Insurance Group, AFG is engaged primarily in
property and casualty insurance, focusing on specialized commercial
products for businesses, and in the sale of fixed and fixed-indexed
annuities in the retail, financial institutions and education
markets. Great American Insurance Group’s roots go back to 1872
with the founding of its flagship company, Great American Insurance
Company.
American Financial Group, Inc.Diane P. Weidner, Asst. Vice
President - Investor Relations, 513-369-5713ORBrunswickStan Neve /
Gemma Hart, 212-333-3810ORWebsites:www.AFGinc.comwww.GreatAmericanInsuranceGroup.com
American Financial (NYSE:AFG)
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