Domain sale approved by shareholders

Domain’s shareholders have overwhelmingly voted in favour of a proposed $3 billion takeover of Domain by US property listings giant Costar.

According to an ASX listing, 99.98% of the votes cast were in favour of the sale, with 91.22% of Domain shareholders voting in favour of the proposition.

This was expected. The Domain Board “unanimously” recommended its shareholders vote in favour of the sale, while majority owner Nine Entertainment, which holds 60.05% of the shares, confirmed earlier this year it intended to vote yes, “in the absence of a superior proposal.”