The Globe and Mail reports in its Tuesday, May 28, edition that Indigo Books & Music shareholders have approved a privatization deal. A Canadian Press dispatch to The Globe reports that shareholders voted in favour of a $2.50 per share offer from Trilogy Retail Holdings and Trilogy Investments. These companies, which are owned by Gerald Schwartz (the spouse of Indigo chief executive officer Heather Reisman) and hold a 56-per-cent interest in Indigo, had initially offered $2.25 but upped the bid in April. For Trilogy's offer to be accepted, it required approval by a two-thirds majority vote of shareholders and a simple majority vote by shareholders not linked to Trilogy and its affiliates. About 95.09 per cent of votes from shareholders represented at the meeting Monday were in favour of accepting the deal. Just shy of 83 per cent of the votes from shareholders not linked to Trilogy and affiliates were in support of the offer. The privatization allows Indigo to avoid scrutiny as it works to bring profitability and growth back to Canada's biggest bookstore. York University governance, law and ethics professor Richard LeBlanc says the rationale for the deal "is not to be saddled with public reporting responsibilities."