The Bermuda-based Everest Re Group announced that it has entered into discussions with Heartland Crop Insurance, Inc. regarding a potential acquisition of the Kansas-based company by Everest Reinsurance Holdings, Inc. or one of its affiliates.
Everest Re said the “parties have entered into a non-binding letter of intent.”
The bulletin also stated that the potential transaction “remains subject to negotiation and execution of definitive agreements, and there can be no assurance that a definitive agreement will be entered into or that the discussions will result in a transaction.”
Everest Re added that it would “provide further details once a definitive agreement is reached or upon consummation of the proposed transaction.”
Source: Everest Re
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