Man Group has won overwhelming shareholder support for its $1.6bn (£1bn) bid for GLG Partners, and has made a senior appointment from GLG for the enlarged group.
Some 91.3% of Man's shareholders at an EGM today voted to proceed with the acquisition, which was set in motion in May.
Shareholders of New York-listed GLG Partners, the FSA and America's Securities & Exchange Commission must also approve the deal before it can go further.
Following completion of the deal, Man Group will appoint GLG principal Emmanuel Roman to the newly created position of chief operating officer.
He will also remain co-CEO of GLG, alongside Noam Gottesman.
The duo, plus Pierre Lagrange, GLG senior managing director, will all report to Man's CEO Peter Clarke.
GLG shareholders are expected to convene next month for their own ballot on the acquisition.
If it passes, Man Group hopes to complete its purchase shortly thereafter.
However, it could face limited opposition from small shareholder Ron Duva, who has filed a claim against GLG in the US, arguing it should have secured a higher price than the $4.50 per share offer, and that provisions in the offer were phrased to deter competing bids.
However, Duva has only a negligible shareholding in GLG, according to Bloomberg. A company spokesman says GLG views his suit as "entirely without merit".
