FORT WAYNE, Ind. -- Summcorp said its shareholders overwhelmingly approved the company's proposed acquisition by Detroit-based NBD Bancorp.

They voted at a special meeting Thursday.

The deal has cleared all regulatory hurdles and is expected to close July 1, the companies said. The Federal Reserve Bank of Chicago gave its approval May 20.

Summcorp and its five Summit Banks will be consolidated into NBD Indiana Inc. Shareholders are to receive 1.35 shares of NBD common stock for each share of Summcorp.

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