Aetna (NYSE:AET) has moved another step closer to acquiring Coventry Health Care (NYSE:CVH).
Shareholders voted today at a special meeting to approve a move by Aetna to acquire Coventry.
About 99 percent of the shares that voted supported the deal, and the deal attracted the support of about 78 percent of all outstanding Coventry shares, Coventry said.
Aetna and Coventry still must get approvals from state insurance regulators and wait for the federal antitrust waiting period to expire before they can consummate the deal, Coventry said.
The companies hope to complete the deal by mid-2013.
Aetna has agreed to pay $5.7 billion in cash and stock for Coventry and assume responsibility for $1.6 billion in notes issued by the Bethesda, Md., health insurer.