This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

National Interstate Corporation's Board Adopts "Neutral" Recommendation Regarding Great American Insurance Company's Tender Offer

RICHFIELD, Ohio, Feb. 19, 2014 (GLOBE NEWSWIRE) -- National Interstate Corporation (Nasdaq:NATL) (the "Company") today announced that it is filing a Schedule 14D-9 Solicitation/Recommendation Statement (the "Schedule 14D-9") with the Securities and Exchange Commission (the "SEC") in response to the unsolicited tender offer (the "Offer") commenced by Great American Insurance Company ("GAIC"), a wholly-owned subsidiary of American Financial Group, Inc. ("AFG") (NYSE:AFG) (Nasdaq:AFG), to acquire all of the outstanding shares of common stock of the Company, other than shares owned by GAIC, at a purchase price of $30.00 per share in cash without interest.

The board of directors of the Company (the "Board") has determined to express no opinion as to the Offer and to remain neutral with respect to the Offer. The Board is not expressing a view as to whether the Offer is fair to or in the best interests of the shareholders and is not making a recommendation regarding whether the shareholders should accept the Offer and tender their shares, and if so how many shares to tender, or reject the Offer and not tender their shares.

The Board has determined that a shareholder's decision on whether or not to tender shares in the Offer and, if so, how many shares to tender, is a personal investment decision based upon each individual shareholder's particular circumstances. The Board urges each shareholder to make the shareholder's own decision regarding the Offer based on all of the available information, including the adequacy of the purchase price in light of the shareholder's own investment objectives, the shareholder's views as to the Company's prospects and outlook, the factors considered by the Board as described in the Schedule 14D-9, and any other factors that the shareholder deems relevant to the shareholder's investment decision.

The Board encourages shareholders to review the Schedule 14D-9 in its entirety because it contains important information.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs