PayPal’s offer to take over TIO Networks wins approval

PayPal’s bid to acquire Vancouver-based bill payment specialist TIO Networks has been approved by TIO shareholders, who overwhelmingly voted in favour of the proposed sale. Nearly 80% of the outstanding TIO shares and options were represented in person or by proxy, of which 99.8% voted for the sale – well over the two-thirds majority required under Canadian law. Read more: www.bankingtech.com