American Financial Boosts National Interstate Takeover Bid

Law360, New York (June 27, 2016, 4:28 PM EDT) -- American Financial Group Inc. revealed Monday it is willing to pay more to take over National Interstate Corp., while pushing forward with a recently revived bid more than two years after an earlier buyout attempt fell apart.

Ohio-based AFG sweetened its offer to $30.75 per share — up from $30 apiece — that the insurer does not already own through its subsidiary, Great American Insurance Co., according to a regulatory filing with the U.S. Securities and Exchange Commission.

The increased bid comes after AFG in March formally rekindled a buyout attempt, with a $293 million bid for National Interstate. AFG at...

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