Fairfax increases offer for American Safety

American Safety Insurance Holdings has received a revised and increased offer from Fairfax Financial Holdings to purchase the company.

The offer has risen from $29.25 per share to $30.25 a share. The board of directors of American Safety has approved an amendment to the Merger Agreement among American Safety, Fairfax and Fairfax Holdings Bermuda Ltd. reflecting the revised price and an increase in the termination fee to $13.4 million from $9.1 million.