National Atlantic Holdings Corporation to Merge with Palisades Safety and Insurance Association
Parties:
>Palisades a New Jersey-only, independent agency company is committed to providing competitive rates for safe drivers and exceptional customer service to New Jersey drivers.(http://palisades.com)
> National Atlantic Holdings Corporation and its subsidiaries provide property and casualty insurance and insurance-related services to individuals, families and businesses in the State of New Jersey. (http://www.national-atlantic.com/)
Under the terms of the agreement, each outstanding share of common stock of National Atlantic will be canceled and converted into the right to receive $6.25 in cash per share.
>Expected Closed:
3Q 2008
>Termination fee:
Variable
>Notes:
The merger is subject to the approval of National Atlantic’s shareholders.
The merger is not subject to a financing condition.
