StockMarketWire.com - Restaurant Group shareholders approved the company's £559m takeover bid of Wagamma but not without a large protest vote being lodged against the deal.

Around 40% of participating shareholders voted against the takeover, while 60% were in favor.

Restaurant Group indicated it would press on with the transaction.

'We have engaged extensively with investors throughout this transaction and very much appreciate the time all have given,' chairman Debbie Hewitt said.

'We are pleased that the majority of our shareholders have approved the acquisition and the associated rights issue, and we would like to thank them for the support they have shown.'

'We are confident that the deal will create significant long-term value.

Hewitt said the acquisition created a 'raft' of new opportunities in the months and years ahead.




At 3:00pm: [LON:RTN] Restaurant Group The PLC share price was -30.1p at 204.9p



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