OTHER NEWS - Nov. 21, 1994
From Times Staff and Wire Reports
Kemper-Conseco Merger Falls Apart: Kemper Corp. and Conseco Inc. have called off their proposed merger, less than three weeks after Conseco lowered its original $3.25-billion bid by $290 million. Conseco, a Carmel, Ind.-based insurance company, in June offered $67 a share for Long Grove, Ill.-based Kemper, which has interests in insurance and financial services. Kemper accepted. But on Nov. 2, Conseco said rising interest rates were making debt-financing more expensive and lowered its bid to $2.96 billion, or $60 a share.
