Shareholders of Hutchison Whampoa on Monday voted in favour of the mega reorganisation proposed for the company and its parent CK Hutchison Holdings, bringing chairman Li Ka-shing’s restructuring plan for his business empire near to completion.
Hutchison said more than 99 per cent of votes from shareholders at a general meeting had been in favor of the merger plan.
“The two stocks escaped the market correction,” he said. “They could come under downward pressure … there’s not much excitement to further drive up the shares.”
Full Content: The Wall Street Journal
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