The proposed scheme went to a shareholder vote yesterday.
A total of 82.59% of votes and 73.89% of shareholders supported the scheme, clearing both bars set by the Federal Court of Australia.
Manikay Partners, a substantial shareholder, had expressed concern that $3.40 was a significant undervaluation of MYOB, but reportedly voted in favour of the scheme in line with the intention it expressed earlier this month.
“The board today welcomes the decision by MYOB shareholders to support the board’s recommendation that the scheme of arrangement should proceed. While there are still several steps to take before the scheme is complete, today’s outcome demonstrates that shareholders agree with the board that the scheme is in their best interests," said MYOB chairman Justin Milne.
"MYOB is a great Australian company and the board has every confidence that it will continue to thrive under the care of its new owners."
The steps Milne referred to include obtaining Federal Court approval of the scheme.