Shareholders of the Mony Group have approved the company's merger with AXA at a special meeting held in New York.
More than 53% of the outstanding shares were voted in favour of the adoption of the merger agreement, said AXA, with approximately 84% of the retail votes cast in favour.
“We are delighted that Mony shareholders have approved the merger with AXA Financial. We look forward to closing this transaction as promptly as practicable and do not currently anticipate that the level of appraisal demands that have been received will alter our thinking,” said Christopher Condron, AXA Financial chief executive and president.
“Mony represents a complementary fit to AXA Financial's insurance, annuity and asset management businesses, and we believe that, together, we can strengthen our industry leadership.
“We have been diligently planning how to integrate the two companies and are awaiting the final regulatory approvals so we can move forward.”
