Edinburgh-based investment giant Abrdn announced on Tuesday afternoon that 80% of its shareholders approved the resolution put to its General Meeting to acquire Manchester-based investment platform Interactive Investor for £1.49 billion in cash.

The deal was announced in December last year.

Abrdn chairman Douglas Flint said: “We are delighted with the strong support shown by shareholders today in approving our acquisition of interactive investor.

“The deal transforms our personal vector, adding interactive investor’s distinctive subscription based business model and incremental growth to an already successful and fast growing segment.

“We expect the transaction to complete before the mid-year, subject to completion of regulatory approval.”

Abrdn has assets under management and administration of about £540 billion.