The Federal Trade Commission and the Antitrust Division of the U.S. Department of Justice have cleared the way for Humana Inc. to proceed with plans to acquire KMG America Corp.
As expected, the agencies granted early termination of the waiting period required by the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
Humana Louisville, Ky., announced plans in September to acquire KMG America Corp., Minneapolis, the parent of Kanawha Insurance Company, for $188 million.
Kanawha sells voluntary insurance at the worksite. It also sells traditional group benefits and benefit plan administration services.
Humana hopes to complete the Kanawha acquisition by March 31, 2008, the companies say.