Penn Treaty terminates acquisition pact .  ALLENTOWN , Pa .  1996-08-27  Penn Treaty American Corp said Tuesday it terminated a previously announced non-binding letter of intent to purchase Merrion Insurance Company Inc , a [START_ENT] New York [END_ENT] licensed company .  In announcing its decision , Penn Treaty said it " will continue to actively pursue entering into the New York long-term care market through licensing or by acquisition . "  It explained the " addition of a New York license will enable Penn Treaty American Corp to conduct business in all 50 states , following the company 's acquisition of Health Insurance of Vermont , a Vermont domiciled insurer , scheduled to close on August 30 , 1996 . "  -- New York Newsdesk 212-859-1610 .
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