The proposed merger between IWL and Commonwealth Bank of Australia (CBA) is a step closer after IWL shareholders voted in favour of the move.
At a scheme meeting held in Melbourne earlier today, votes in favour of the merger totalled 99.70 per cent.
The scheme remains subject to the approval of the Supreme Court of Victoria at a hearing currently scheduled for Friday, November 9, 2007.
CBA announced in August that it intended to acquire the whole of IWL for more than $370 million.
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In April, IWL sold its financial advisory software, Visiplan, to Iress for around $50 million. Iress also owns competitor Xplan.
