NEW YORK, July 27, 2016 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of National Interstate Corporation ("National Interstate" or the "Company") (NASDAQ: NATL) concerning the proposed acquisition of the Company by Great American Insurance Company ("Great American"), a wholly-owned subsidiary of American Financial Group, Inc.
Under the terms of the offer, Great American would acquire National Interstate in a transaction valued at approximately $660 million. Pursuant to the deal, National Interstate stockholders will receive $32.00 in cash per share of National Interstate. Additionally, National Interstate will pay a special dividend of $0.50 per common share upon closing of the transaction.
Our investigation concerns whether the National Interstate board of directors is fulfilling its fiduciary duties, maximizing the value of the Company, disclosing all material benefits and costs, and obtaining full and fair consideration for Company stockholders.
If you own National Interstate shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Benjamin I. Sachs-Michaels, Esq.
Robert I. Harwood, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
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Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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SOURCE Harwood Feffer LLP