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Holders Vote For Clarica Deal

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NU Online News Service, Nov. 27, 1:23 p.m. – Sun Life Financial Services of Canada Inc., Toronto, says shareholders and voting policyholders of Clarica Life Insurance Company, Waterloo, Ontario, have voted in favor of the company’s proposed merger.

The combined company will operate as Sun Life Assurance Company of Canada, while continuing to sell products under both the Clarica and Sun Life Financial brand names.

The deal has already been approved by U.S. and Canadian regulators.

Sun Life announced plans to acquire Clarica through a stock swap with a value of about $5 billion in U.S. currency in December 2001.