Seven shareholders approve SCA merger

Seven shareholders have voted in favour of merging with audio company Southern Cross Austereo, with 99.36% of voters in favour of the scheme. The deal is to be finalised on January 7.

The merger was first announced in late September,with the competition watchdog giving the green light in mid-November.

The Supreme Court has made orders approving the proposed acquisition, with Seven to file the orders with ASIC on Wednesday, at which point the scheme will become effective.