Special Committee of National Interstate Corporation Considering Latest Proposal from Great American Insurance Company
09 7월 2016 - 5:45AM
National Interstate Corporation (Nasdaq:NATL) (the “Company”)
announced today that the Special Committee of its Board of
Directors received a revised proposal, dated July 6, 2016, from
Great American Insurance Company, a wholly-owned subsidiary of
American Financial Group, Inc., to pay $32.00 per share of common
stock of the Company for the outstanding shares of the Company not
owned by Great American Insurance Company (the “Revised Proposal”).
The Special Committee is reviewing and evaluating the Revised
Proposal together with its financial and legal advisors.
There can be no assurance that any agreement will be executed or
that a transaction will be approved or consummated.
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
investorrelations@nationalinterstate.com
www.natl.com
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