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Article: American Heritage Life Agrees To Merge With Allstate Subsidiary.
- Article from:
- PR Newswire
- Article date:
- July 9, 1999
CopyrightCOPYRIGHT 1999 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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JACKSONVILLE, Fla., July 9 /PRNewswire/ -- American Heritage Life Investment Corporation (NYSE: AHL) announced today that it had signed an agreement to merge into a subsidiary of The Allstate Corporation (NYSE: ALL). Under the merger agreement, American Heritage Life shareholders would receive $32.25 for each American Heritage Life share, receivable in Allstate shares or upon election by shareholders, in cash, subject to proration as may be necessary to preserve the tax-free nature of the transaction. In addition, Allstate will assume American Heritage Life's obligations under its outstanding mandatorily redeemable preferred securities. The offer values American Heritage ...