Morse-2e2 deal gets final green light

Morse shares set to be suspended as merger approved in second and final Court hearing

Go ahead: The takeover of Morse by 2e2 has finally been approved

A UK court has given its final blessing to the acquisition of Morse by 2e2, meaning the deal can go ahead.

As a result Morse shares are set to be suspended from tomorrow as the two firms go about integrating, following the sanction of its Scheme of Arrangement by the Court.

In a statement to the UK Stock Exchange, it said: "Morse and 2e2 are pleased to announce that the Scheme of Arrangement has been sanctioned by the Court today. Pending the effective date of the Scheme of Arrangement on 21 June 2010, Morse has applied for its shares to be suspended with effect from 7.30am on 17 June 2010."

Last month the £70m deal was approved by Morse shareholders after getting a thumbs up from its first court hearing.