June 7, 2018 / 10:53 AM / a year ago

Evergreen Parent raises AmTrust buy-out deal value to $2.95 bln

June 7 (Reuters) - U.S. insurer AmTrust Financial Services Inc agreed to be bought by a group of investors for $2.95 billion, up from an earlier offer of $2.7 billion.

Evergreen Parent, an entity formed to acquire AmTrust, will pay $14.75 per share in cash, up $1.25 from its earlier offer of $13.50 per share, AmTrust said here

The revised deal value represents a 4.6 percent premium to the stock’s closing price on Wednesday.

Billionaire investor Carl Icahn, who owns 9.4 percent in the company and was opposed to the deal, has also agreed to support the revised offer price and the company’s decision to go private. (Reporting By Aparajita Saxena in Bengaluru; Editing by Shounak Dasgupta)

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