Humana (HUM) Acquires KMG America (KMG) At Hefty Premium
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Late Friday, Humana Inc. (NYSE: HUM) signed a definitive agreement to purchase KMG America Corporation (NYSE: KMA) for cash consideration of $6.20 for each outstanding share of KMG. Shares of KMA closed at $3.49 on Friday.
KMG offers life and health insurance products and services to approximately 1.1 million group and individual members nationwide, including stand-alone stop-loss insurance through group employers for approximately 473,000 members and third-party claims administration and medical management services for approximately 131,000 self-insured members. KMG's revenues for the year ended December 31, 2006 approximated $181 million.
KMG offers life and health insurance products and services to approximately 1.1 million group and individual members nationwide, including stand-alone stop-loss insurance through group employers for approximately 473,000 members and third-party claims administration and medical management services for approximately 131,000 self-insured members. KMG's revenues for the year ended December 31, 2006 approximated $181 million.
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