K&B; Plan Approved: Shareholders have approved the...

K&B; Plan Approved: Shareholders have approved the proposal to split the housing and insurance businesses of Los Angeles-based Kaufman & Broad into independent companies. Kaufman & Broad has run its housing operations through a majority-owned subsidiary, Kaufman & Broad Home. Under the split, the housing operation will become independent, greatly increasing the number of public shares available for sale. The remaining insurance and other financial services operations will be renamed Broad Inc.