Law360, New York (April 28, 2014, 9:35 PM EDT) -- In a March 14, 2014, decision that has received little commentary, an Ohio federal court in Spachman v. Great American Insurance Co. took the extraordinary step of enjoining a tender offer by Great American Insurance, a wholly owned subsidiary of American Financial Group, for the 48 percent of National Interstate Corp. not already owned by AFG. The ruling provides important lessons to buyers and sellers in controlling shareholder tender offer situations.
NIC shareholder, founder and board member Alan Spachman contended that Great American's offer was coercive, a result of an unfair process led by conflicted NIC directors and replete within...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!