iiNet shareholders vote in favour of TPG Telecom merger

"iiNet shareholders have approved a $1.56 billion takeover offer from TPG Telecom in a move that will create Australia's second-biggest provider of fixed-line internet services. Shareholders gathered in Perth on Monday morning to vote on TPG's controversial bid, which has seen iiNet's founder Michael Malone and major institutional shareholders slam the offer at various stages. But despite a last-ditch effort by Merlon Capital's Hamish Carlisle to rally voters against the deal, TPG won the day with 100.6 million votes in favour and 5.2 million against. Almost 94 per cent of proxies were in favour of the deal" (VIEW LINK)