Fairfax Financial To Acquire ASI For $306 Million

Fairfax Financial Holdings Ltd (OTCMKTS:FRFHF) (TSE:FFH) agreed to acquire American Safety Insurance Holdings, Ltd. (NYSE:ASI) for $306 million, according to a 13D filing. American Safety Insurance Holdings, Ltd. (NYSE:ASI) indicated that on June 2, 2013, it has entered into an agreement and plan of merger with Fairfax and Fairfax Bermuda Holdings Ltd. Post-merger, American Safety Insurance Holdings, Ltd. (NYSE:ASI) would continue as the surviving corporation and an indirect wholly-owned subsidiary of Fairfax. Fairfax Financial Holdings Ltd (OTCMKTS:FRFHF) (TSE:FFH), a financial services holding company, intends to pay $29.25 per share in cash and expects to finance the merger with cash on hand….