StanCorp Financial Group (SFG) announced that shareholders voted during a special meeting held in Portland to approve the Agreement and Plan of Merger entered into on July 23, 2015 by and among StanCorp, Meiji Yasuda Life Insurance Company (“Meiji Yasuda”), and MYL Investments (Delaware) Inc., under which Meiji Yasuda will acquire all outstanding shares of StanCorp for $115.00 per share in cash.
More than 99% of the votes cast were in favor of the transaction.
Completion of the merger remains subject to approval by certain regulatory authorities in the United States and Japan, as well as customary closing conditions, which StanCorp expects to occur in the first quarter of 2016.
StanCorp Financial Group, Inc., through its subsidiaries marketed as The Standard — Standard Insurance Company, The Standard Life Insurance Company of New York, Standard Retirement Services, StanCorp Mortgage Investors, StanCorp Investment Advisers, StanCorp Real Estate and StanCorp Equities — is a leading provider of financial products and services.
StanCorp’s subsidiaries offer group and individual disability insurance, group life and accidental death and dismemberment insurance, group dental and group vision insurance, absence management services, retirement plans products and services, individual annuities, and the origination and servicing of fixed-rate commercial mortgage loans.