Today’s edition of WorkCompRecap features some M&A news as Coventry has announced that its stockholders voted at a special meeting held last week to approve the previously announced merger agreement for Aetna’s acquisition of Coventry. Of the approximately 78% of Coventry’s total outstanding shares that voted, over 99% voted in favor, and Coventry and Aetna continue to expect that the transaction will be completed in mid-2013. Find out more by clicking here!
Also in the news today is the acquisition of specialty insurance brokerage Alliant Insurance Services from Blackstone by global investment firm KKR. Alliant’s management and employees own approximately 45% of the company and are expected to roll over a substantial portion of their investment. Chairman & CEO Tom Corbett noted that the transaction will enable Alliant to remain independent and maintain its market lead. Find out more by clicking here!