Stewart Ivory's shareholders have voted to accept Colonial's offer to acquire the Edinburgh-based independent investment management company.

Under terms in the offer, Stewart Ivory's issued share capital is valued at £47.2m (E75.5m) with Colonial offering bonus arrangements of £17.3m to employees and additional contingency payments of £11.5m over the next five years. Provided all deferred requirements are met, the deal will total £72m.