The Kemper Insurance Companies announced that the parties have discontinued negotiations toward a definitive agreement relating to a sale of certain lines of Kemper’s existing business as contemplated by its previously announced letter of intent with Securitas Capital, LLC, Cypress Merchant Banking Partners II L.P. and Gilbert Global Partners L.P.
Kemper is currently evaluating its options with respect to this business and is also considering what effect this development may have on its outstanding surplus notes tender offer.
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