02:22 PM EDT, 05/27/2024 (MT Newswires) -- Indigo Books & Music (IDG.TO), on Monday said shareholders voted to approve its sale to Trilogy Investments, which plans to take the retailer private

Trilogy offered C$2.50 per share for the company.

"We are pleased with the result of today's vote and look forward to continuing our work on Indigo's transformation strategy," said chief executive Heather Reisman said in a statement.

Indigo is scheduled to seek a final order from the Ontario Superior Court of Justice (Commercial List) on May 30

Following completion of the arrangement Indigo shares will be delisted from the Toronto Stock Exchange.

Indigo shares were last seen up $0.01 to $2.49 on the Toronto Stock Exchange.

Price: 2.49, Change: +0.01, Percent Change: +0.40