wsj_0534.xml
WSJ891030-0167
WSJ891030-0167
=
891030
=
891030
891030-0167
.
891030-0167
.
Conseco
to
Redeem
Preferred
Conseco
to
Redeem
Preferred
10/30/89
10/30/89
10/30/89
WALL
STREET
JOURNAL
(
J
)
WALL
STREET
JOURNAL
(
J
)
CNC
CNC
BUYBACKS
,
REDEMPTIONS
,
SWAP
OFFERS
(
BBK
)
BUYBACKS
,
REDEMPTIONS
,
SWAP
OFFERS
(
BBK
)
CARMEL
,
Ind.
CARMEL
,
Ind.
Conseco
Inc.
said
it
is
calling
for
the
redemption
on
Dec.
7
of
all
the
800,000
remaining
shares
outstanding
of
its
$
1.875
Series
A
convertible
preferred
stock
at
$
26.805
a
share
.
The
insurance
concern
said
all
conversion
rights
on
the
stock
will
terminate
on
Nov.
30
.
Until
then
,
Conseco
said
the
stock
remains
convertible
into
common
stock
at
the
rate
of
1.439
shares
of
common
stock
for
each
share
of
preferred
stock
,
which
is
equivalent
to
a
conversion
price
of
$
17.50
a
common
share
.
In
New
York
Stock
Exchange
trading
Friday
,
Conseco
closed
at
$
19.50
,
down
25
cents
.