The stockholders of health insurance firm Humana have approved the $37bn worth acquisition deal by Aetna.


The deal was first announced by both firms in July this year.

As part of the deal, Aetna will pay $125.00 per share in cash and provides its 0.8375common shares for each Humana share.

Humana said that the 99% of the shareholders voted in favor of the adoption of the merger agreement, representing around 87% of Humana’s total outstanding shares of common stock on 16 September.

Humana offers medical insurance products and services and non-medical insurance products and services through its different affiliates.

The firm provides individual insurance, including medical coverage, health insurance, dental insurance, and vision insurance.

Humana Health Insurance Company of Florida and Humana Insurance Company provide medical insurance products and services.

Humana Insurance Company, HumanaDental Insurance Company, Humana Health Insurance Company of Florida, CompBenefits Insurance Company, CompBenefits Company and Kanawha Insurance Company are some of the firms that provide non-medical insurance products and services.

Subject to customary closing conditions, including expiration of the federal Hart-Scott-Rodino antitrust waiting period and approvals of state departments of insurance and other regulators, the deal is expected to be completed in the second half of 2016.

Image: Aetna building in Hartford, Connecticut. Photo: courtesy of Sage Ross.