Billabong shareholders have overwhelmingly approved a takeover by Boardriders after the owner of Quiksilver and DC Shoes increased its offer at the last minute.
Boardriders lifted its offer by A5c to A$1.05 per share just before the scheme meeting, and 95.45 per cent of votes were cast in favour of the improved cash bid.
The successful offer represented a 34.6 per cent premium on Billabong's closing price the day before Boardrider's proposal was first announced in January.
Boardriders chief executive Dave Tanner said the deal offered the best value for shareholders, employees, vendors and customers.
"We are pleased to see that the Billabong shareholders recognised this value, and have approved the proposed acquisition," Tanner said.