KMG America shareholders OK merger deal with Humana

By Lisa Kerner

Charlotte, N.C., Nov. 16 - KMG America Corp. shareholders approved the company's acquisition by Humana Inc. at a special meeting on Friday.

About 75% of KMG America's outstanding shares were voted in favor of the deal, which gives stockholders $6.20 per share in cash, according to a company news release.

The transaction, first announced on Sept. 7, is expected to close as early as Nov. 30.

Humana is a health insurance coverage company based in Louisville, Ky.

KMG America is the Minnetonka, Minn., holding company for Kanawha Insurance Co.

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