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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Cna Surety Corp. | NYSE:SUR | NYSE | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 26.53 | 0.00 | 01:00:00 |
Mark D. Gerstein
Timothy P. FitzSimons Latham & Watkins LLP 233 South Wacker Drive, Suite 5800 Chicago, Illinois 60606 (312) 876-7700 |
Gary I. Horowitz
Simpson Thacher & Bartlett LLP 425 Lexington Avenue New York, NY 10017-3954 (212) 455-7113 |
o | Check the box if the filing relates solely to preliminary communications made before the commencement of a tender offer. |
| the fact that the Offer Price represents a multiple of 1.15x the Companys book value, excluding accumulated other comprehensive income, which compares favorably to the price to book value multiple of publicly traded comparable companies; |
The Special Committee did not consider the potential liquidation value of the Company because the Company is a viable going concern where value is derived from cash flows generated from its continuing operations and that the Special Committee expected that the value of the Companys assets that might be realized in a liquidation would be significantly less than its value as a going concern. Therefore, the Special Committee believes that the liquidation value of the Company is irrelevant to a determination as to whether the Offer and the Merger are fair to unaffiliated stockholders. | |||
The Special Committee did not consider the purchase prices paid in previous purchases of the Companys Shares by Parent or the Affiliated Stockholders or firm offers from an unaffiliated person over the past two years regarding a merger, consolidation, assets sale or sale of a minority interest in the Company because the Special Committee was not aware of any such purchases or proposals. |
1
CNA SURETY CORPORATION
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By: | /s/ Rosemary Quinn | |||
Name: | Rosemary Quinn | |||
Title: | Senior Vice President, General Counsel and Secretary | |||
1 Year C N A Surety Chart |
1 Month C N A Surety Chart |
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