Shareholders representing more than 90% of UK Burger King franchisee Gowrings have given their backing to a £9.6m takeover by rival Caspian.
The backing, which means the bid has been declared unconditional, clears the way for it to go through.
Caspian, a private company that operates 12 Burger King restaurants in the south of England, announced its recommended cash offer, of 106p a share, in November.
Gowrings operates 41 Burger Kings in the Midlands and south of England but, despite cost cutting, its restaurants had remained saddled with high overheads.
Its had sold its accident repair centres business in June to focus on its restaurant operations, but even this did not prove enough.
by Nic Paton
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