Independence Holding annonces tender offer for American Independence

|About: American Independence Corp. (AMIC)|By:, SA News Editor

Shares of American Independence (AMIC +15.8%) soar after for Independence Holding Company (IHC) announced that it's commenced a tender offer to purchase up to 762,640 shares at $10.00 net per share in cash.

The offer will expire at 5:00 P.M. EST on Wednesday, October 2, unless extended by IHC.

If the tender is fully subscribed, IHC and its subsidiaries will own up to 90% of AMIC's outstanding float.