Aetna Shareholders Approve Transaction With ING; Vote Allows Sale of Financial Services and International Businesses

Business Wire, Nov 30, 2000

Business Editors

HARTFORD, Conn.--(BUSINESS WIRE)--Nov. 30, 2000

Aetna Inc (NYSE: AET) announced that at a special meeting held today, its shareholders approved the agreement and plan of restructuring and merger with ING Groep N.V. Under the merger agreement and related agreements, the company will spin off its domestic health care businesses to its shareholders, and sell its financial services and international businesses to ING Groep N.V. The proposal to approve the agreement and transactions it contemplates received the required two-thirds vote by holders of the outstanding shares of Aetna common stock. The closing of this transaction is subject to certain regulatory approvals and customary closing conditions.

Shareholders also approved the adoption of a stock incentive plan and an annual incentive plan by the new health care company.

A Fortune 50 company, Aetna is the nation's leading health and related benefits company with 19.2 million health members, 14.5 million dental members and 11.4 group insurance members. Information about Aetna is available at www.aetna.com.