One More Deft Deal For The Lindners

CARL LINDNER IS GOING PUBlic again. More than a decade after taking American Financial private, he is combining it with his 40%-owned American Premier Underwriters, a specialty insurer. The deal, worth nearly $700 million, will leave Lindner's family with a majority of the new company while allowing Lindner, 75, to pay off $750 million in American Financial debt. American Premier, formerly Penn Central, has sought a place to invest its $820 million in cash and to deploy $645 million in operating tax-loss carryforwards.