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GBST Holdings gets shareholder approval for FNZ Group deal

GBST Holdings Ltd. obtained shareholder approval for FNZ Group's plan to acquire GBST Holdings.

Under the scheme of arrangement, 100% of GBST Holdings will be acquired by FNZ (Australia) Bidco Pty. Ltd., a wholly owned subsidiary of Kiwi Holdco CayCo Ltd., for A$3.85 per share in cash, or about A$269 million.

The scheme is subject to approval by the Supreme Court of New South Wales. If the court approves the scheme, GBST Holdings proposed to let the scheme become legally effective Oct. 18.