The Financial Post reports in its Wednesday, May 29, edition that Indigo Books & Music shareholders have voted to approve a deal that will see the retailer become a private company.
A Canadian Press dispatch to the Post reports that given all the issues Indigo has faced, privatization "may be the shake-up Indigo needs," Liza Amlani, principal and founder at the Retail Strategy Group consulting firm, said in an e-mail.
Now that it has shareholder approval, Indigo said it will seek a final order from the Ontario Superior Court of Justice on Thursday and expects the deal to take effect on Friday.
It anticipates its shares will be delisted from the Toronto Stock Exchange sometime after.
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