Deals
Japan Exchange Clears Last Hurdle as Shareholders OK Deal
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Shareholders of Osaka Securities Exchange Co. and Tokyo Stock Exchange Group Inc. approved a $1.6 billion merger of Japan’s biggest bourses in a bid to reinvigorate the country’s securities markets.
Owners of the companies approved the transaction at extraordinary meetings in Tokyo and Osaka. Tokyo Stock Exchange bought 66.7 percent of the smaller exchange after a tender offer that ended in August, making today’s votes largely procedural. Shares of the Osaka exchange jumped as much as 6.4 percent today, the most since the deal was announced last November.