<UNICOA> TO MERGE INTO ITS UNITED INSURANCE UNIT
Unicoa Corp said it agreed to a merger
with its wholly-owned subsidiary, United Insurance Co of
America.
    Under the agreement, each outstanding share of Unicoa
common stock will be converted into one share of United common
stock.
    The agreement is subject to shareholder and regulatory
approval. Teledyne Inc <TDY> owns about 98.4 pct of Unicoa's
outstanding shares. A shareholder meeting is expected to be
held in August.
 Reuter
