Shareholders of travel group Wotif.com have overwhelmingly voted in favour of a $700 million takeover by Expedia.
A $700 million foreign takeover of Wotif.com has received approval from the travel group’s shareholders.
Global travel booking giant Expedia is now expected to take control of the company from October 15, pending the Supreme Court of Queensland’s approval of the takeover’s scheme of arrangement.
Almost all shareholder votes were in favour of the takeover, which will deliver $3.06 for every share, and a 24 cent per share special dividend.
The competition watchdog gave its approval of the takeover earlier this month.