This is good news for those anticipating the completion of Saks Fifth Avenue's purchase by the Hudson's Bay Company. Saks shareholders have approved the merger, and the deal is scheduled to close next Monday.
99.4% of Saks shareholders approved the deal. Potential litigation by shareholders has also been settled.
The following is the full press release regarding the Saks sale:
BusinessWire · Oct. 30, 2013 | Last Updated: Oct. 30, 2013 4:06 PM ET