The Commerce Group Discloses Stake in National Atlantic Holdings, Says It May Look To Acquire

 |  Includes: CGI, NAHC
by: Lon Juricic

In a 13D filing on National Atlantic Holdings Corp. (NAHC), The Commerce Group Inc. (NYSE:CGI) disclosed an 8.2% stake (924K shares) in the company. The Commerce Group changed their filing status from 13G to 13D, indicating a more active role in the investment. The Commerce Group said it is in the process of evaluating a potential transaction, including the possibility of entering into a business combination or other strategic transaction such as an acquisition.

National Atlantic Holdings Corporation and its subsidiaries provide property and casualty insurance and insurance-related services to individuals, families and businesses in the State of New Jersey. The Commerce Group, Inc. is headquartered in Webster, Massachusetts.

NAHC 1-yr Daily Chart

Comment on this article