AFG Purchase of National Interstate Moves Forward

American Financial Group Inc. on Monday announced that it has entered into a merger agreement with National Interstate Corp., following approval of the transaction by National Interstate’s Special Committee. AFG intends to acquire all shares of National Interstate that are not currently owned by AFG’s wholly owned subsidiary, Great American Insurance Co. Based on a $32 per share purchase price plus $0.50 special dividend, the price to acquire the National Interstate shares not currently owned by Great American will be approximately $320 million, AFG said. The propo...