This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Independence Holding Company Announces Commencement Of Tender Offer For American Independence Corp. Common Stock

Stocks in this article: IHC

STAMFORD, Conn., Sept. 4, 2013 (GLOBE NEWSWIRE) -- Independence Holding Company (NYSE:IHC) today announced that it has commenced a tender offer to purchase up to 762,640 shares of the common stock of American Independence Corp. (Nasdaq:AMIC) for $10.00 net per share in cash (the "Tender Offer"). The Tender Offer will expire at 5:00 P.M. New York City time on Wednesday, October 2, 2013, unless extended by IHC. If the Tender Offer is fully subscribed, following the Tender Offer, IHC and its subsidiaries may own up to 90% of AMIC's outstanding common stock. 

The complete terms and conditions of the Tender Offer are set forth in the offer to purchase and letter of transmittal being sent to holders of AMIC common stock. AMIC stockholders are urged to read the Tender Offer documents carefully. This press release is neither an offer to purchase nor a solicitation to buy any shares of stock, nor is it a solicitation for acceptance of the Tender Offer. IHC is making the Tender Offer only by, and pursuant to the terms of, the offer to purchase and the related letter of transmittal. The Tender Offer is not being made in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue-sky or other laws of such jurisdiction. None of IHC, any of its affiliates (excluding AMIC), the depositary, the information agent and the advisors and representatives of IHC is making any recommendation as to whether or not AMIC stockholders should tender their shares in the Tender Offer.

IHC has filed a Tender Offer Statement on Schedule TO (including the offer to purchase and related letter of transmittal) with the Securities and Exchange Commission ("SEC"). Before deciding to participate in the Tender Offer, AMIC stockholders should read the offer to purchase and the other documents IHC has filed with the SEC for more complete information about the Tender Offer. These documents may be obtained for free at the SEC's website, www.sec.gov . They may also be obtained on IHC's website at www.ihcgroup.com under the "Investors" tab under "Corporate." Copies of the offer to purchase and the letter of transmittal may also be obtained from Registrar and Transfer Company, the information agent for the Tender Offer, at (800) 368-5948.

About Independence Holding Company

IHC is a holding company principally engaged in the life and health insurance business and the acquisition of blocks of policies through its insurance company subsidiaries (Standard Security Life Insurance Company of New York, Madison National Life Insurance Company, Inc. and Independence American Insurance Company) and its marketing and administrative affiliates. Standard Security Life markets medical stop-loss, small group major medical, short-term medical, limited medical, group long and short-term disability and life, dental, vision and various supplemental products. Madison Life sells group life and disability, small group major medical, major medical for individuals and families, dental, individual life insurance, and various supplemental products. Independence American offers major medical for individuals and families, medical stop-loss, small group major medical, short-term medical, pet insurance, and non-subscriber occupational accident and international coverages. IHC owns certain subsidiaries through its majority ownership of American Independence Corp. (Nasdaq:AMIC), which is a holding company principally engaged in the insurance and reinsurance business.

CONTACT: ADAM C. VANDERVOORT
         (646) 509-2156
         www.ihcgroup.com

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,195.42 +221.11 1.30%
S&P 500 0.00 -2.75 -0.14%
NASDAQ 4,566.1380 +16.9120 0.37%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs