Bupa Australia has announced that the policy holders of MBF, an Australian health fund, have voted in favor of a proposed merger with the company.
According to Bupa, 329,605 votes were cast in support of the merger, representing 98.33% of the total votes.
In December 2007, the MBF board has announced its support for Bupa’s A$2.41 billion proposal to combine the two businesses and create a private health fund. Since then, approval for the merger has been granted by the MBF Council and the Australian Competition and Consumer Commission. The merger is now subject to final approval from the Australian Federal Court.
Val Gooding, CEO of Bupa, said: The outcome of vote by MBF’s policyholders is a strong endorsement of their support for the proposal to bring MBF and Bupa Australia together.