Horace Mann Educators Corp.

NYSE:HMN   11:41:31 AM EDT
+0.33 (+0.85%)
Debt Financing / Related, Mergers / Acquisitions

Horace Mann To Buy Madison National Life From IHC In $172.5 Mln Transaction

Published: 07/14/2021 13:52 GMT
Horace Mann Educators Corp. (HMN) - Horace Mann to Acquire Madison National Life From Ihc in $172.5 Million Transaction.
Horace Mann Educators Corp - Expecting 2022 EPS Accretion From Transaction to Be in Mid-single Digits With About 50 Basis Point Contribution to Roe.
Horace Mann Educators Corp - Ihc Will Have Potential Earnout of Up to $12.5 Million Payable in Cash, If Specified Financial Targets Achieved by 2023 End.
Horace Mann Educators Corp - Transaction Will Be Funded With Cash on Hand and Additional Borrowings on Co's Revolving Credit Facility.
Horace Mann Educators Corp - Co's Revolving Credit Facility is Being Extended to 2026 and Expanded by $100 Million to $325 Million.