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Hub Plan To Go Private Gets Shareholders' Okay

The Chicago-based broker said shareholders voted to approve the plan that would allow the private equity groups Apax Partners and Morgan Stanley Principal Investments to acquire all of Hub's common sh

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Insurance broker Hub International Limited said its shareholders yesterday approved a $1.6 billion plan for two private equity firms to purchase the company and take it private.

The Chicago-based broker said shareholders voted to approve the plan that would allow the private equity groups Apax Partners and Morgan Stanley Principal Investments to acquire all of Hub’s common shares for $41.50 per share in cash.

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