MEMPHIS Morgan Keegan Inc. shareholders approved the broker-dealers acquisition by Regions Financial Corp. on Thursday, the company said.
The deal, which has already cleared regulatory hurdles, is expected to close today . Under the terms of the transaction, Morgan Keegan would maintain its name and operate as a subsidiary of Regions. Once the deal is done, Regions would merge its brokerage operations into Morgan Keegan to create a combined sales force of 900 retail and institutional brokers.
