Stocks To Watch: National Interstate Corporation (NASDAQ:NATL), Silvercorp Metals Inc. (USA) (NYSE:SVM)
National Interstate Corporation (NASDAQ:NATL)’s Board adopts ‘Neutral’ recommendation regarding Great American Insurance Company’s tender offer. Company announced that it is filing a Schedule 14D-9 Solicitation/Recommendation Statement with the SEC in response to the unsolicited tender offer commenced by Great American Insurance Company (“GAIC”), a wholly-owned subsidiary of American Financial Group ( AFG ), to acquire all of the outstanding shares of common stock of the Company, other than shares owned by GAIC, at a purchase price of $30.00 per share in cash without interest.
The board of directors of the National Interstate Corporation (NASDAQ:NATL) has determined to express no opinion as to the Offer and to remain neutral with respect to the Offer. The Board is not expressing a view as to whether the Offer is fair to or in the best interests of the shareholders and is not making a recommendation regarding whether the shareholders should accept the Offer and tender their shares, and if so how many shares to tender, or reject the Offer and not tender their shares. The Board has determined that a shareholder’s decision on whether or not to tender shares in the Offer and, if so, how many shares to tender, is a personal investment decision based upon each individual shareholder’s particular circumstances.
National Interstate Corporation (NASDAQ:NATL) shares fell -0.13% to $29.91 in current session.
Silvercorp Metals Inc. (USA) (NYSE:SVM) intercepts 1.42 metre interval grading 263 g/t gold and 335 g/t silver at the HPG Mine, Ying Mining District, China. Company is pleased to report the highlights of its recently completed 2013 step-out drilling program at the HPG and TLP mines in the Ying Mining District, Henan Province, China. The 2013 down-dip drilling exploration tested high-grade zone extensions of the current major veins, targeting the down dip extensions, some 200 to 250 metres (“m”) below the limits of existing resources.
Silvercorp Metals Inc. (USA) (NYSE:SVM) shares rose 1.85%, to $2.76 in current session.