Ex-AmTrust Investor Seeks EU Antitrust Probe Of $2.95B Deal
Law360 (March 1, 2019, 7:16 PM EST) -- A private investment firm claiming to have been one of AmTrust’s largest shareholders is broadening its challenge to the $2.95 billion deal that took the insurer private, asking Europe's competition watchdog to launch an antitrust investigation into a deal it claims was deliberately undervalued.
Krupa Global Investments says it is already contesting the deal, approved by a majority of shareholders in June 2018, in a Delaware Chancery Court complaint alleging AmTrust Financial Services Inc. breached its fiduciary duty in the deal valuing the insurer at $14.75 per share when investors allegedly should have been paid at well over $20 per share....
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