Cognos Inc said on Monday its shareholders have approved a $5 billion takeover offer from International Business Machines Corp., the Canadian business software maker said Monday.
The deal is the largest ever for IBM, which agreed to buy Cognos for $58 per share last November.
Ottawa-based Cognos, the last major independent maker of business intelligence software, said the share offer was approved by about 99.8 percent of votes cast by shareholders present or by proxy.
The deal, - subject to approval by the Ontario Superior Court of Justice - is expected to close during the first calendar quarter.
Approval will be sought on January 16, Cognos said.
January 15, 2008
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