02:59 PM EDT, 05/27/2024 (MT Newswires) -- Indigo Books & Music Inc. shareholders have voted to approve a deal that will see the retailer become a private company, The Canadian Press is reporting Monday.

Shareholders voted Monday in favour of a $2.50 per share offer from Trilogy Retail Holdings Inc. and Trilogy Investments L.P., which have a 56% stake in Indigo and are owned by Gerald Schwartz, the spouse of Indigo chief executive Heather Reisman.

The Trilogy companies originally offered $2.25 per share but raised their bid in April.

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