Shareholders of WCE Holdings Inc. shave approved the proposed acquisition by IntercontinentalExchange, Inc.

The ICE and WCE, parent of the Winnipeg Commodity Exchange, jointly announced today that at a special meeting of WCE Holdings shareholders held this afternoon, WCE Holdings shareholders voted to approve the proposed plan of arrangement.

Under the plan, ICE will acquire all of the shares of Holdings for $77.59 per share, or $50 million in the aggregate.

Over 99% of the votes cast by shareholders were in favor of the transaction. Approval from the Manitoba Securities Commission was also received today. The transaction remains subject to court approval, for which a hearing is to be held and approval requested on August 27, and other closing conditions.

The transaction is scheduled to be closed as soon as practicable after court approval is obtained.