ICH Corp. said it will purchase for...

ICH Corp. said it will purchase for $12 cash per share all of the 1.5 million shares of First Executive Corp. common stock tendered, and not withdrawn, pursuant to its tender offer, which expired on Feb. 12. ICH now owns 8.5 million shares, or 12% of the First Executive common stock outstanding. “ICH is disappointed in the outcome of the tender offer,” a spokesman said. “Although it may purchase additional shares from time to time in the future, it is also considering disposing of its entire position in Los Angeles-based First Executive common stock.”