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.
Gun Accessory Company to Pay $1.75 Million to Buffalo Supermarket Shooting Victims 
Florida Insurance Costs 14.5% Lower Than Without Reforms, Report Finds 
New York’s Mid-Hudson Insurance to Acquire Hanover Fire of Pennsylvania 
BMW Recalls Hundreds of Thousands of Cars Over Fire Risk 
