Fairfax Completes Acquisition of American Safety
October 03 2013 - 9:06AM
Business Wire
(Note: All dollar
amounts in this press release are expressed in U.S. dollars.)
American Safety Insurance Holdings, Ltd. (NYSE: ASI) ("American
Safety") today announced the successful completion of its
previously announced acquisition by Fairfax Financial Holdings
Limited (“Fairfax”).
American Safety shareholders will receive $30.25 in cash for
each common share they owned as of the effective time of the
merger, without interest and less any applicable withholding taxes.
Trading of American Safety shares is being suspended on October 3,
2013 and American Safety common shares will be delisted from the
New York Stock Exchange in connection with the acquisition.
American Safety shareholders of record as of the effective time
of the merger who hold their common shares in certificated form
will receive a letter of transmittal and other materials from the
paying agent in connection with the transaction. These materials
will have to be completed and returned to the paying agent in order
for such shareholders to receive the merger consideration. Persons
whose common shares of American Safety are held in book entry form
should expect to receive the merger consideration through their
broker or other nominee or directly from the paying agent. For
those American Safety shareholders whose common shares were held in
“street name” by a bank, brokerage firm or other nominee as of the
effective time of the merger, their bank, brokerage firm or other
nominee will handle the exchange of their common shares for the
merger consideration, and they should contact their broker, nominee
or other financial adviser for further instructions.
About Us:
American Safety is a Bermuda-based holding company offering
innovative insurance solutions for underserved specialty risks
through its U.S.-based program administrator, American Safety
Insurance Services, Inc., and its U.S. insurance and Bermuda
reinsurance companies.
American Safety Insurance Holdings, Ltd.Investor
RelationsStephen R. Crim, 441-296-8560
American Safety (NYSE:ASI)
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