Stockholders of Louisville-based Kindred Healthcare have approved the sale of the company to a consortium that includes Humana Incorporated and two private equity firms.
Kindred says in a statement that the transaction is expected to close this summer.
Last month, a court in Delaware dismissed a suit seeking to block the sale. It was filed by New York-based Brigade Capital Management. The company’s funds control about 5.7 percent of Kindred’s stock.
Brigade claimed the acquisition would undervalue the company.
Forbes reports the Kindred deal is worth about $4 billion.
The news follows a recent report in the Wall Street Journal that early talks have begun about the possible sale of Louisville-based Humana to Wal-Mart.