Johns Lyng to suspend trading as shareholders approve Pacific Equity Partners buyout
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The news: Shareholders of building services provider Johns Lyng have voted in favour of the company's proposed $1.1 billion takeover by private markets investor Pacific Equity Partners, announced in June.
The numbers: About 81.49% of individual shareholders present and voting at the company's general scheme meeting voted in favour of the resolution. Around 99.1% of all shares voted were in were in favour of the scheme.
The context: The scheme remains subject to the approval of the Supreme Court of New South Wales, who will hear an application by Johns Lyng on 13 October.
The company expects to suspend trading on the ASX after the market closes on 14 October, with implementation of the scheme set for 23 October.
The source: ASX
