Fairfax Announces Completion of Acquisition of American Safety
October 03 2013 - 10:34AM
Business Wire
(Note: All dollar
amounts in this press release are expressed in U.S. dollars.)
Fairfax Financial Holdings Limited (TSX: FFH and FFH.U)
("Fairfax") announces the successful completion today of its
acquisition of American Safety Insurance Holdings, Ltd. ("American
Safety") (NYSE: ASI). 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.
Fairfax Financial Holdings Limited is a financial services
holding company which, through its subsidiaries, is engaged in
property and casualty insurance and reinsurance and investment
management.
Fairfax Financial Holdings LimitedJohn Varnell, 416-367-4941Vice
President, Corporate Development
American Safety (NYSE:ASI)
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