Insight and Intelligence on the London & International Insurance Markets

20 April 2018

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AmTrust committee sought 43% sweetener on first offer

Laura Board 9 April 2018

A special committee established to assess the Stone Point Capital-backed management buyout offer for AmTrust had argued for a price as much as 43 percent higher than the bidders' $12.25-per-share January proposal before the parties settled on a sweetener of roughly 10 percent.

The move was revealed in a proxy statement AmTrust filed today with the Securities and Exchange Commission.

The committee was formed after AmTrust chairman and CEO, Barry Zyskind, and other members of the Karfunkel-Zyskind family teamed up...

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