Citizens Incorporated, an insurance holding company, has reached an agreement to acquire the Ozark National Life Insurance Company for $58.06 per share.
The transaction is subject to approval by Ozark National’s shareholders, approvals by insurance regulators and other customary closing conditions. Closing is expected in the fourth quarter of 2008.
Rick Riley, president of Citizens, said: As we continue to grow the pre-need and final expense business, Ozark National provides a natural synergy with our Security Plan subsidiary. These two companies complement one another very well, and together, serve to strengthen each other.