Humana, Aetna shareholders approve $37 billion merger
Humana says shareholders at a special meeting overwhelming approved the company’s takeover by fellow insurer Aetna.
The Louisville, Kentucky-based company said Monday that more than 99 percent of shares voted at the meeting were in favor the deal, which was announced in July. That total represents about 87 percent of Humana’s total outstanding common shares.
Separately, Aetna, of Hartford, Connecticut, says that shareholders approved the issuance of stock to Humana shareholders.
The $37 billion deal will create the country’s second-largest managed care company. It’s still subject to approval by regulators and other closing conditions. Humana Inc. and Aetna Inc. expect to complete the transaction in the second half of 2016.