Myer’s proposed acquisition of Premier Retail’s apparel brands Just Jeans, Jay Jays, Portmans, Dotti, and Jacqui E received approval from the majority of shareholders of both companies.

In the results of the extraordinary general meeting, 96.16 per cent of Myer’s shareholders voted in favour of the proposal.

For Premier’s shareholders, 99.96 per cent approved the capital reduction resolution and 99.89 per cent approved the performance rights resolution.

In her executive chair address, Myer’s Olivia Wirth said that the company’s independent directors have determined that the proposal “is compelling and in the best interests of Myer shareholders.”

“The combination with apparel brands accelerates our strategic priorities and given the challenging trading environment, this task is more important than ever,” said Wirth.

The combination is expected to create a footprint of 783 department and specialty stores, with more than 17,000 team members.

“The combination creates a more resilient Myer Group, with genuine and significant scale across Australia and New Zealand, an omni retail business with diversified earnings, a larger customer base that spans more Australians across all demographics,” said Wirth.

Earlier, Myer said that its independent advisor, Kroll, approved the proposal.