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Slideshow Mega-Mergers: Largest Recent M&A Transactions

By The Online Investor Staff, updated Mon., Jul. 25, 6:01 PM

Slide #1. American Financial Group, Inc. National Interstate Corporation

Acquirer: American Financial Group, Inc. (AFG)
Acquiree: National Interstate Corporation (NATL)
Details: American Financial Group, Inc. (NYSE:AFG) today announced that it reached an agreement with the Special Committee of the Board of Directors of National Interstate Corporation (NASDAQ:NATL) to acquire all shares of National Interstate that are not currently owned by AFG's wholly-owned subsidiary, Great American Insurance Company (GAIC). Shareholders of National Interstate, other than Great American, will receive $32.00 per share in cash in the transaction, without interest and less any required withholding taxes. In addition, National Interstate will pay a one-time special dividend to its shareholders of $0.50 per NATL share in cash immediately prior to the closing of the merger. The transaction remains subject to the approval of shareholders holding a majority of the shares of National Interstate not owned by AFG or its affiliates. GAIC has entered into a voting agreement with Alan Spachman under which Mr. Spachman has agreed to vote his beneficially owned shares, totaling approximately 10% of the outstanding National Interstate common shares (and representing approximately 20% of the shares not owned by GAIC), in favor of the transaction.

American Financial Group is a holding company. Co.'s segments include: Property and Casualty Insurance, which includes Property and Transportation(inland and ocean marine, agricultural-related, and commercial automobile), Specialty Casualty (executive and professional liability, umbrella and excess liability, excess and surplus, general liability, targeted programs, and workers' compensation), and Specialty Financial (fidelity and surety and lease and loan services); Annuity, which sells fixed and fixed-indexed annuities in the retail, financial institutions and education markets; and Other, which includes commercial real estate operations.

AFG SEC Filing Email Alerts Service


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American Financial Group is a holding company. Co.'s segments include: Property and Casualty Insurance, which includes Property and Transportation(inland and ocean marine, agricultural-related, and commercial automobile), Specialty Casualty (executive and professional liability, umbrella and excess liability, excess and surplus, general liability, targeted programs, and workers' compensation), and Specialty Financial (fidelity and surety and lease and loan services); Annuity, which sells fixed and fixed-indexed annuities in the retail, financial institutions and education markets; and Other, which includes commercial real estate operations.

AFG SEC Filing Email Alerts Service


Open the NATL Page at The Online Investor »

Company Name:  American Financial Group Inc
Website:  www.afginc.com
Sector:  Insurance Brokers
Number of ETFs Holding AFG:  55
Total Market Value Held by ETFs:  $323.56M
Total Market Capitalization:  $6.23B
% of Market Cap. Held by ETFs:  5.19%
Company Name:  National Interstate Corp
Website:  www.natl.com
Sector:  Insurance Brokers
Number of ETFs Holding NATL:  21
Total Market Value Held by ETFs:  $7.30M
Total Market Capitalization:  $612.00M
% of Market Cap. Held by ETFs:  1.19%
 

July 25, 2016    6:01 PM Eastern
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