06 November 2007 16:06 [Source: ICIS news]
LONDON (ICIS news)--Akzo Nobel's acquisition of coatings rival ICI will almost certainly go ahead after shareholders in the UK paints company approved the deal on Tuesday with a 99% majority.
The only hurdle remaining is approval from the EU competition authorities, which was widely seen as a foregone conclusion.
According to ICI's website, shareholders representing 99.39% of the company's shares voted for the acquisition.
The Netherlands-based company announced the acquisition on 13 August in a deal that would include ?xml:namespace>
The takeover was expected to close on 2 January 2008.
($1 = €0.69/£0.48)
Mark Watts contributed to this article
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