A week after withdrawing a tender offer to acquire United Insurance Holdings, shareholders of Farmington-based FMG Corp. have agreed to a merger between the two companies.

As a result of the merger, FMG will change its name to United Insurance Holdings Corp. United underwrites homeowners and select small business insurance in Florida.

In addition to approving the merger, FMG stockholders also approved certain amendments to FMG’s certificate of incorporation and the election of three United members to the company’s board of directors.

”As a result of the merger, we will be a financially stronger and more transparent company,” said Greg Branch, United’s chairman. “We are confident that the merger will help us to further strengthen our position in Florida’s homeowners insurance market, and in so doing will enhance the long-term value of United for its shareholders.”

FMG withdrew its initial acquisition offer in part because ““it did not believe the business objectives of the offer could be met due to the procedural requirements of the tender offer rules.”