Shareholders OK Sale of American Safety to Fairfax

American Safety Insurance Holdings Ltd. said its shareholders approved the merger plan between the company with Fairfax Bermuda Holdings Ltd.

Under the terms, the company’s shareholders will receive $30.25 for each share of the company’s common stock. Approximately 84.48 percent of the outstanding shares voted at the meeting this morning, of which approximately 99.39 percent voted in favor of the merger, according to American Safety.

The transaction remains subject to receipt of certain regulatory approvals and is expected to close early in the fourth quarter of 2013.