Astral shareholders approve BCE buy-out
The shareholders of Astral Media have approved the proposed acquisition by BCE of all of its issued and outstanding shares. The shareholders approved the proposal at a special meeting by 99.8%. "I am very pleased by the overwhelming support of Astral's shareholders in favor of the arrangement," said Ian Greenberg, president and CEO of Astral. "This enthusiastic support aptly reflects the value that the negotiated agreement represents for all Astral shareholders. I look forward to continuing to work in close collaboration with Bell's team towards securing regulatory approvals for the transaction and its completion later in 2012." The proposal remains subject to approval by the Quebec Superior Court.