National Interstate rejects higher AFG offer

National Interstate has rejected an increased offer from
majority shareholder American Financial Group (AFG) to purchase the
shares in the US commercial auto insurer it doesn't already
own.
On Monday (27 June), AFG made an increased offer of $30.75 per
share through subsidiary Great American, up from the $30 a share
bid it tabled in March.
The earlier bid had represented a 33 percent premium to National
Interstate's closing price before the offer was made, and
valued the insurer at...