Item 8.01 Other Events
On July 31, 2012, Torchmark Corporation ("Torchmark"), Family Heritage Life
Insurance Company of America ("Family Heritage"), Southwestern American
Financial Corporation ("SAFC"), Family Resources Inc.("Family Resources"), and
for various limited purposes, Southwestern/Great American, Inc. and Spencer Hays
entered into a Stock Purchase Agreement pursuant to which Torchmark will
purchase 100% of the outstanding stock of Family Heritage, a privately-held
supplemental health insurance provider, from ASFC and Family Resources for a
purchase price of approximately $218.5 million, subject to closing adjustments.
The acquisition will be funded internally and is not subject to any financing
contingencies. Completion of the purchase and closing of the transaction is
expected to occur early in the fourth quarter of 2012.
The press release announcing the agreement to acquire Family Heritage issued by
Torchmark on August 1, 2012 is attached to this Form 8-K as Exhibit 99.1 and is
incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits
(a) Financial statements of businesses acquired.
None.
(b) Pro forma financial information.
None.
(a) Shell company transactions.
None.
(b) Exhibits.
(99.1) Press Release of Torchmark Corporation dated August 1, 2012.
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