Bermuda-based American Safety Insurance Holdings, Ltd. announced that Fairfax Financial Holdings Limited has increased its offer to purchase American Safety to $30.25 per share from the previously announced $29.25 per share.
American Safety said its board of directors “has approved an amendment to the Merger Agreement among American Safety, Fairfax and Fairfax Holdings Bermuda Ltd. reflecting the revised price and an increase in the termination fee to $13.4 million from $9.1 million. The transaction is subject to customary conditions, including approval of American Safety’s shareholders and regulatory approvals.
Source: American Safety
Topics Mergers & Acquisitions
Was this article valuable?
Here are more articles you may enjoy.
‘Ghost Broker’ Who Procured 1,120 Policies Through Fraud Arrested 
‘We’ll Want Some Proof’: State Farm CEO’s Take on NY Auto Insurance Reforms 
North Carolina Becomes First State to Pass Outright Ban on Litigation Financing 
Ship Insurers Set for Major Claims From Iran War, Allianz Says 
