Shareholders at both Travelers Property Casualty and The St Paul Companies have voted in support of the proposed merger between the two firms.
The St Paul said shareholders voted on the issuance of stock in the transaction, amendments to the company’s bylaws, amendments to the company’s charter and a reduction in the shareholder approval required for certain fundamental actions. All the voting issues had an approval rate of 95% or above.
Travelers shareholders voted to approve the merger at a separate specially convened meeting.
The merger still needs to gain approval from several insurance regulators before it can proceed.
