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ACHIW ------Kingsway Financial Gets Illinois Insur Director OK For Buy

TORONTO -(Dow Jones)- Kingsway Financial Services Inc. (KFS) has received Illinois Director of Insurance approval for its previously announced acquisition of control of American Country Insurance Co .

As reported, Kingsway is offering to acquire all the shares of American Country Holdings Inc. (ACHI), the parent company of American Country Insurance.

Approval by the Illinois Director of Insurance was a condition of the acquisition of the parent company.

Kingsway is offering $2.10 a share for each common share American Country Insurance. It's also offering $12 for each Series A convertible preferred share and 17.5 cents for each Class A share purchase warrant