Shareholders in Marsden Maritime Holdings have voted in favour of a buyout by a consortium comprising Northland Regional Council, Port of Tauranga and Tupu Tonu.
The decision paves the way for the merger of Northport and Marsden Maritime Holdings into a single entity.
The consortium will now seek approval from the High Court for the scheme of arrangement, which involves buying out non-Northland Regional Council shareholders at a price of $5.60 per share.
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