Humana acquires KMG America

By Lisa Kerner

Charlotte, N.C., Nov. 30 - Humana Inc. completed its acquisition of KMG America Corp., the companies announced on Friday.

Under the companies' merger agreement, KMG shareholders will receive $6.20 in cash for each KMG share held.

KMG shareholders approved the $187.7 million transaction on Nov. 16.

The deal, which included the assumption of about $35 million of debt, was financed through a combination of cash and debt, according to a company news release.

Humana is a health insurance coverage company based in Louisville.

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

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