Sydney Airport takeover ready for takeoff as shareholders approve deal

 Sydney Airport (ASX: SYD) is set to delist from the ASX next week after shareholders approved a takeover of the company yesterday, meaning a coalition of Australian superannuation funds will take control of the airport.

At yesterday’s scheme meeting, 96.03 per cent of votes cast were in favour of the takeover meaning the deal will go ahead unless the Federal Court decides to block the acquisition.

A not insignificant number of retail investors did vote against the acquisition though, with 20.71 per cent of shareholders voting to block the play. However, their voting power only represented 3.97 per cent of votes cast in total.

Read More: https://www.businessnewsaustralia.com/articles/sydney-airport-takeover-ready-for-takeoff-as-shareholders-approve-deal.html