National Atlantic to cease trading after company acquired by Palisades Safety and Insurance

By Lisa Kerner

Charlotte, N.C., July 31 - Palisades Safety and Insurance Association completed its acquisition of National Atlantic Holdings Corp.

As a result, National Atlantic shares were slated to be delisted from the Nasdaq Global Market and cease trading at the close of business on Thursday.

In March, National Atlantic entered into a definitive merger agreement to be acquired by Palisades Safety and Insurance for $6.25 in cash per share.

National Atlantic said its shareholders approved the merger on June 23.

Freehold, N.J.-based National Atlantic and its subsidiaries provide property and casualty insurance and insurance-related services.

Palisades Safety is a licensed insurance exchange based in Berkeley Heights, N.J.

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