Citibank has agreed to finance an acquisition bid for Kemper Corp., making it a participant in any bidding war that might break out.

Conseco Inc., an insurance company based in Carmel, Ind., yesterday announced a $3.25billion bid for Chicago-based Kemper, and said it has a letter of commitment from Citibank to underwrite $1.22 billion of bank loans for the deal.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.