Close Close
ThinkAdvisor

Life Health > Health Insurance

American Medical Shareholders Approve Acquisition

X
Your article was successfully shared with the contacts you provided.

NU Online News Service, Dec. 2, 2004, 6:50 p.m. EST

PacifiCare Health Systems Inc., Cypress, Calif., has moved closer to acquiring a Midwestern health insurer.[@@]

Shareholders of American Medical Security Group Inc., Milwaukee, have approved American Medical managers’ decision to sell the company to PacifiCare, American Medical says.

Holders of about 61% of the outstanding shares of common stock cast their votes in favor of the deal.

American Medical needs the support of the holders of a majority of its common shares to proceed with the PacifiCare deal, which already has the approval of Wisconsin insurance regulators.

American Medical sells health insurance and related products to individuals and small groups.


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.