Fairfax Financial Boosts Offer For American Safety Insurance To $30.25 Per Share

(RTTNews) - American Safety Insurance Holdings, Ltd. (ASI) said Wednesday that Fairfax Financial Holdings Ltd.d (FFH.TO) has increased its offer to buy American Safety to $30.25 per share from the previously announced $29.25 per share.

The board of directors of American Safety has approved an amendment to the merger agreement among American Safety, Fairfax and Fairfax Holdings Bermuda Ltd. reflecting the revised price and an increase in the termination fee to $13.4 million from $9.1 million.

The deal is subject to customary conditions, including approval of American Safety's shareholders and regulatory approvals.