AFG Offers To Buy National Interstate Shares For $267M

Law360, New York (February 5, 2014, 3:21 PM EST) -- American Financial Group Inc. said Wednesday that it has offered to acquire all outstanding shares of National Interstate Corporation for nearly $267 million, hoping to merge National into its subsidiary.

The deal values the property and casualty insurance company at $28 per share. The offer will last until March 6 and, thus far, National Interstate has not yet responded with a public recommendation. As of October, more than 19.7 million shares were outstanding, of which 10.2 million are owned by subsidiaries of AFG, such as the...
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