Source: streetinsider

Press Release: Stone Point Capital : AmTrust Enters into Amendment to Merger Agreement with Evergreen Parent

NEW YORK, June 07, 2018 (GLOBE NEWSWIRE) -- AmTrust Financial Services, Inc. (Nasdaq: AFSI) (the "Company" or "AmTrust") announced today that it has entered into an amendment to the merger agreement with Evergreen Parent, L.P., an entity formed by the Karfunkel-Zyskind Family and private equity funds managed by Stone Point Capital LLC (“Stone Point”). Under the terms of the amended agreement, Evergreen will acquire the approximately 45% of the Company's shares of common stock that the Karfunkel-Zyskind Family and certain of its affiliates and related parties do not already own or control for $14.75 per share in cash, subject to regulatory approval and other closing conditions. This represents an increase of $1.25 per share, or 9.3%, in cash consideration to AmTrust public stockholders, over the previously agreed upon $13.50 per share, and a 45% premium to the Company’s unaffected closing stock price on January 9, 2018.

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Charles A. Davis's photo - CEO of Stone Point Capital

CEO

Charles A. Davis

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89/100

Stone Point Capital is a venture capital firm that focuses on investments in the financial services industry. Read more