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Exhibit (a)(1)(Y)
To: BUSINESS WIRE AMY LYNCH
Fax #: 312-573-0019 Ph. #: 888-292-4446
Date: November 17, 2000
Contact: Mr. Gregory M. Shepard
Chairman and President
American Union Insurance Company
Phone: (309) 827-5968
AMERICAN UNION INSURANCE COMPANY TO EXTEND TENDER OFFER TO FRIDAY, DECEMBER 15,
2000.
American Union Insurance Company, Meridian Insurance Group Acquisition
Corporation, Gregory M. Shepard, and Tracy M. Shepard have extended the
expiration of their tender offer for 50.1% of the shares of Meridian Insurance
Group, Inc. to 5:00 P.M., New York City Time, on Friday, December 15, 2000. In
response to a request by the Indiana Securities Commissioner, the offerors have
submitted additional material to the Indiana Securities Commissioner to clarify
and supplement certain accounting and financing information. Upon completion of
the proceedings before the Indiana Securities Commissioner, the offerors intend
to proceed with their offer.
On September 18, 2000, the offerors revised the cash tender offer which they
commenced on August 31, 2000, to an offer for 50.1% of the outstanding common
stock of Meridian Insurance Group, Inc., for $25 per share.
American Union Insurance Company is a Bloomington, Illinois based property and
casualty insurance company originally chartered in 1916 by L.F. Shepard as Union
Automobile Insurance Association. The present name was adopted in 1998. Today
50% of American Union's common stock is owned by Gregory M. Shepard and 50% by
Tracy M. Shepard, who are brothers. Meridian Insurance Group Acquisition
Corporation is a wholly owned subsidiary of American Union Insurance Company.
