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Univision Shareholders OK Takeover

Univision Communications shareholders approved an investor group’s previously announced acquisition of the company at a special meeting in Los Angeles Wednesday.

The group -- Madison Dearborn Partners, Providence Equity Partners, Texas Pacific Group, Thomas H. Lee Partners and Saban Capital Group -- will acquire the Spanish-language media company for $36.25 per share in cash, or a total of approximately $13.7 billion including the assumption of $1.4 billion in debt.

The deal was approved by more than 80% of the shares that voted, which constituted more than 60% of the outstanding shares, Univision said, adding that it expects the transaction to close next spring.