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UNITED INVESTORS' SHAREHOLDERS APPROVE PROPOSED MERGER WITH TORCHMARK

 BIRMINGHAM, Ala., Sept. 29 /PRNewswire/ -- Torchmark Corporation (NYSE: TMK) and United Investors Management Company (NYSE: UTD) announced today that the proposed merger of United Investors with a subsidiary of Torchmark has been approved by United Investors' public shareholders.
 Pursuant to this merger, Torchmark will acquire all of the United Investors shares that it does not already own for $31.25 per share in cash. The proposal was approved by the holders of 74 percent of United Investors' publicly held shares entitled to vote.
 According to a Torchmark spokesman, the Delaware Chancery Court is expected to rule on Oct. 1 on a motion by two United Investors shareholders who are seeking to enjoin the proposed merger. The company believes that the motion is without merit. If the motion is denied, the merger will be consummated that day.
 -0- 9/29/93
 /CONTACT: William T. Graves, 205-325-4251, or Lee Bartlett, 205-325-4204, both of Torchmark/
 (TMK UTD)


CO: Torchmark Corporation; United Investors Management Company ST: Alabama IN: INS SU: TNM

BN-CF -- AT008 -- 6979 09/29/93 16:47 EDT
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Publication:PR Newswire
Date:Sep 29, 1993
Words:176
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