American Safety Shareholders Overwhelmingly Approve Merger with Fairfax
August 26 2013 - 1:00PM
Business Wire
American Safety Insurance Holdings, Ltd. (NYSE: ASI) today
announced that its shareholders approved the Agreement and Plan of
Merger, dated June 2, 2013, as amended by Amendment No. 1 thereto
dated August 7, 2013, among the Company, Fairfax Financial Holdings
Limited (TSX: FFH and FFH.U) and Fairfax Bermuda Holdings, Ltd. and
the merger of the Company with Fairfax Bermuda Holdings, Ltd.
Pursuant to the terms of the merger, the Company’s shareholders
will receive $30.25 for each share of the Company’s common stock.
Approximately 84.48% of the outstanding shares voted at the Special
General Meeting this morning, of which approximately 99.39% voted
in favor of the merger. The transaction remains subject to receipt
of certain regulatory approvals and is expected to close early in
the fourth quarter of 2013.
About Us:
For over 25 years, American Safety Insurance Holdings, Ltd.
(NYSE:ASI), a Bermuda holding company, has offered innovative
solutions outside the U.S. in the reinsurance and alternative risk
markets through its subsidiaries, American Safety Reinsurance, Ltd.
and American Safety Assurance, Ltd., and in the U.S. for specialty
risks and alternative risk markets through its program
administrator, American Safety Insurance Services, Inc., and
insurance company subsidiaries and affiliates, American Safety
Casualty Insurance Company, American Safety Indemnity Company, and
American Safety Risk Retention Group, Inc. As a group, ASI’s
insurance subsidiaries and affiliates are rated “A” (Excellent) IX
by A.M. Best. For additional information, please visit
www.asih.bm.
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