American Financial Group (AFG) announced Monday morning that it has offered to buy all of the outstanding common shares of National Interstate Corp. (NATL) not currently owned by its wholly-owned subsidiary, Great American Insurance Co., for $30 per share in cash or around $293 million.
National Interstate gapped open sharply higher Monday, but was range-bound throughout the session. Shares finished with a gain of 6.93 at $29.54 on the highest volume of the year. The stock closed challenging the highs of the year, trading at a 4-month high.
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