LEAF - Leaf Group gains after holders approve sale to Graham Holdings

Zhanna Hapanovich/iStock via Getty Images Leaf Group (LEAF) rose 0.8% after shareholders agreed to $323M sale to Graham Holdings (GHC). Holders of approximately 59.14% of all outstanding common shares of Leaf Group voted to agreed to the deal, according to a statement. The transaction is now expected to close on Monday. The shareholder vote wasn't a given as some holders had come out against the deal. Earlie this week proxy adviser Glass Lewis recommended holders vote in favor of the deal after ISS had said to vote to approve the combination. Graham Holdings agreed to acquire Leaf for $8.50/share in early April.

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Leaf Group gains after holders approve sale to Graham Holdings