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Silver Spring/Itron merger wins shareholders approval

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Silver Spring/Itron merger wins shareholders approval

Silver Spring Networks Inc. shareholders have approved the company's merger with Itron Inc., with 68% votes in favor of the $830 million transaction, according to preliminary voting results announced Jan. 3.

The deal cleared the antitrust review in December 2017 following the expiration of the required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

The companies expect to close the merger on or about Jan. 4. Itron recently closed a $300 million senior notes offering to fund a portion of its acquisition of the smart grid technology provider.