The Zyskind and Karfunkel families have decided to bring their shares in-house with the assistance of Stone Point Capital. Quite frankly, they do not need the investors and are on a mission to take them all out with this transaction.
“The Karfunkel-Zyskind Family have informed AmTrust that they are interested only in acquiring the remaining shares of AmTrust common stock that they do not currently own or control, and have no interest in selling any of the shares they own or control, nor would they expect, in their capacity as stockholders, to vote in favor of any alternative sale, merger or similar transaction involving AmTrust. If the special committee does not recommend, or the stockholders of AmTrust do not approve, the proposed transaction, the Karfunkel-Zyskind Family intend to continue as long-term stockholders of AmTrust.”
It’s interesting to note that AmTrust’s share price rose to more than the offer price at a of $12.25, with shares currently being traded at $12.94.
Congrats to Amtrust on this move!