Australian United Investment Company (ASX:AUI) shareholders voted to approve the company's acquisition of shares in Diversified United Investment from the Ian Potter Foundation under a merger agreement, according to a Monday filing with the Australian bourse.

At a same-day extraordinary general meeting, 98.7% of votes were cast in favor of the acquisition and 1.3% against it.

Shareholders also overwhelmingly approved two additional resolutions to facilitate option agreements under the same deal, per the filing.