Conseco, Capitol American complete merger.CARMEL, Ind.--(BUSINESS WIRE)--March 4, 1997--Conseco, Inc. (NYSE NYSE See: New York Stock Exchange :CNC (Computerized Numerical Control) See numerical control. CNC - Collaborative Networked Communication ) today completed its merger with Capitol American Financial Corp. (NYSE:CAF CAF - constant applicative form ). CAF was merged into a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Conseco. In the merger, each outstanding share of CAF common stock was converted into the right to receive: (1) 0.1647 of a share of Conseco common stock; and (2) $30.75 in cash. First Union National Bank of North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. will act as agent for the conversion. Appropriate forms for presenting CAF stock certificates will be mailed shortly to all CAF stockholders of record. For further information, holders may contact First Union at (800) 829-8432. Conseco is a financial services organization headquartered in Carmel, Ind. Through its subsidiaries, Conseco is one of the nation's leading providers of supplemental health insurance, retirement annuities and universal life insurance. NOTE TO EDITORS: There is an "at" symbol between "ir" and "conseco.com" below. That symbol may not appear properly in some systems. CONTACT: Conseco, Inc., Carmel Jim Rosensteele, 317/817-2893 E-mail: ir@conseco.com |
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