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Verlan
Fire Insurance Company is a property and casualty insurance company
headquartered in Silver Spring, Maryland. Verlan specializes in underwriting
insurance policies to companies in high hazard industries
such as chemicals, paints, and coatings.
Periodically,
Verlan initiates a Dutch auction tender to repurchase a percentage
of its common stock. Curtis provided a valuation range for Verlan
stock, which the Company provided to shareholders as guidance for
the Dutch auction.
Curtis professionals
first began a relationship with Verlan in 1999, when the Company
originally decided on the repurchase strategy.
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