The sale of David Jones looks set to clear a major hurdle today as around 96.5 per cent of proxy votes have been cast in favour of the $2.2 billion takeover offer from South Africa's Woolworths.
Just over 51 per cent of the company's shares, held by around 31 per cent of shareholders, were voted by proxy.
In April, South Africa's Woolworths offered to buy David Jones for $4 a share - a bid the DJs board backed immediately.
Today's vote follows an advertising campaign by David Jones to encourage retail shareholders to vote for the deal, but most big institutional shareholders were in support, making the takeover likely to succeed.
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