The Bermuda-based Everest Re Group announced that it has entered into discussions with Heartland Crop Insurance, Inc. regarding a potential acquisition of the Kansas-based company by Everest Reinsurance Holdings, Inc. or one of its affiliates.
Everest Re said the “parties have entered into a non-binding letter of intent.”
The bulletin also stated that the potential transaction “remains subject to negotiation and execution of definitive agreements, and there can be no assurance that a definitive agreement will be entered into or that the discussions will result in a transaction.”
Everest Re added that it would “provide further details once a definitive agreement is reached or upon consummation of the proposed transaction.”
Source: Everest Re
Was this article valuable?
Here are more articles you may enjoy.
Product Liability Verdicts Are on the Rise but There Are Ways to Avoid Them 
State Farm Sued Over Policies Backed by Distressed Insurer PHL 
Applied Systems, Comulate Spar Over Trade Secret Theft Allegations 
Illinois Attorney General Announces $120M Settlement With Monsanto 
