Amlin P.L.C. shareholders have overwhelming approved a plan by which the London-based underwriter will be purchased by Japan’s Mitsui Sumitomo Insurance Co. Ltd., the companies announced Tuesday.
More than 99% of Amlin shares were voted in favor of a resolution approving the approximately £3.5 billion ($5.40 billion) deal during a general meeting on Tuesday, according to a statement released by the parties.
The transaction was initially proposed in early September.
The statement noted that the transaction requires regulatory and antitrust approval. The deal expected to close during the first quarter of 2016.
Japan-based Mitsui Sumitomo Insurance Co. Ltd. will acquire London-based Amlin P.L.C. in a deal that values Amlin at about £3.47 billion ($5.27 billion) and will merge their Lloyd's of London operations, the companies announced Tuesday.