IPC Financial Network Inc. says it has received the final order of the Ontario Superior Court of Justice approving the proposed plan of arrangement by which IGM Financial Inc., formerly known as Investors Financial Group Inc., will indirectly acquire through a wholly owned subsidiary all of the issued and outstanding common shares of IPC.

The arrangement was overwhelmingly approved at a special meeting of IPC shareholders held on April 28.

Completion of the transaction remains conditional upon satisfaction of a number of conditions in favour of IGM Financial, including that all necessary regulatory approvals have been obtained.

Subject to the waiver or satisfaction of these conditions, IPC expects that the transaction will close on May 10.

Upon completion of the transaction between IPC and IGM Financial, the TSX Venture Exchange will halt trading in IPC’s common shares, and IPC’s common shares will subsequently be delisted from the TSX Venture Exchange.