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Fly News Breaks for June 30, 2016
NATL, AFG
Jun 30, 2016 | 09:22 EDT
Janney Capital analyst Ryan Byrnes says National Interstate's (NATL) special committee rejected American Financial's (AFG) offer to buy the remaining 49% stake of the company saying that the $30.75 per share bid was inadequate. The analyst does not believe that American Financial will increase its bid materially and expects both sides to take another cooling off period. Byrnes reiterates a Buy rating on American Financial's shares.
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