CYBG's
(ASX:CYB) takeover of Virgin Money has received the tick of approval from the UK's High Court of Justice in England and Wales.
The court has sanctioned the scheme worth around £1.7b after the companies reached agreement on the deal in June.
Eligible Virgin Money shareholders will receive over 1.2125 new CYBG shares for each Virgin Money share held.
It's expected the scheme will become effective today, the 15th of October and that the trading of Virgin Money Shares on the London Stock Exchange will be cancelled from 8.00am.
Shares in CYBG
(ASX:CYB) closed 2.06 per cent higher at 5.46 on Friday.
