- Martha Stewart Living Omnimedia (MSO +1.5%) says shareholders overwhelmingly approved its plans to merge with Sequential Brands (SQBG +4.2%).
- Shares in MSO have risen to $6.19, just a penny off the $6.20 acquisition price. The company expects the merger will close on Friday.
- Martha Stewart shareholders voted for the merger 271M to about 170,000, and approved a nonbinding vote on compensation to be paid to executive officers on completing the merger deal.
- Sequential is rebounding today after the company earlier this week decided to take on short sellers. Shares had fallen 33% in the past month.
Martha Stewart shareholders sign off on Sequential merger
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Sequential Brands Group, Inc. |