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FTC terminates waiting period for Kemper's bid to acquire Infinity

The U.S. Federal Trade Commission has granted an early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act for Kemper Corp.'s $1.32 billion bid to acquire Infinity Property & Casualty Corp.

The termination marks one of several closing conditions for the pending acquisition. The companies' agreed-upon merger still needs to gain approval from shareholders of both Kemper and Infinity, as well as from insurance regulatory bodies.

The deal is expected to close in the third quarter.