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Article: Washington National sells subsidiaries to Kaufman and Broad.
- Article from:
- PR Newswire
- Article date:
- January 29, 1986
CopyrightCOPYRIGHT 1986 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LOS ANGELES, Jan. 29 /PRNewswire/ -- Kaufman and Broad Inc. (NYSE: KB) and Washington National Corp. (NYSE: WNT) jointly announced today that they have entered into a preliminary agreement whereby Kaufman and Broad will purchase two of Washington National's subsidiaries, Anchor National Life Insurance Co. and Anchor National Financial Services Inc. for $75 million in cash.
Consummation of the transaction is subject to the execution of a definitive purchase agreement and to requisite regulatory approvals. In addition, Kaufman and Broad will conduct a due diligence review, and Washington National is expected to receive a fairness opinion covering the transaction ...