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Home Beneficial Corp

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December 24, 1996 | Times Staff and Wire Reports
American General Corp., one of the nation's largest diversified financial services companies, has agreed to acquire Home Beneficial Corp. for $665 million. Houston-based American General, an aggressive buyer in the consolidating insurance industry, said shareholders of Home Beneficial can choose to be paid in either cash or common stock in the $39-a-share deal. The news sent Home Beneficial stock up $8.6875 to close at $37.9375 on Nasdaq.
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BUSINESS
December 24, 1996 | Times Staff and Wire Reports
American General Corp., one of the nation's largest diversified financial services companies, has agreed to acquire Home Beneficial Corp. for $665 million. Houston-based American General, an aggressive buyer in the consolidating insurance industry, said shareholders of Home Beneficial can choose to be paid in either cash or common stock in the $39-a-share deal. The news sent Home Beneficial stock up $8.6875 to close at $37.9375 on Nasdaq.
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