NEW YORK, Feb. 5, 2014 /PRNewswire/ -- Tripp Levy PLLC, a leading securities and shareholder rights law firm that represents shareholders throughout the nation, announces that it is investigating the offer to acquire National Interstate Corp. ("NATL"). American Financial Group announced that its wholly-owned subsidiary Great American Insurance Company has commenced a tender offer to acquire all of the outstanding shares of NATL common stock not currently owned by them for $28.00 per share in cash. American Financial currently owns approx. 52% of the outstanding shares of NATL.
The investigation concerns whether the board of directors of NATL and American Financial as a majority owner, are breaching their fiduciary duties in selling the company for an unfair price and by not engaging in a full and fair auction and process to sell the company so that shareholders receive the maximum value for their shares, as a result of any conflicts of interest. Indeed, the stock traded as high as $36.36 per share within the past year.
If you are a shareholder of NATL and would like additional information regarding this matter, at no cost or expense, please contact us at: