Stockholders of Four Seasons Hotels Inc. have narrowly approved a proposal to take the luxury-hotel company private in a $3.8 billion (U.S.) deal involving a group that includes Microsoft’s Bill Gates, right.

The offer of $82 cash per limited voting share came from affiliates of Cascade Investment LLC, owned by Gates; Kingdom Hotels International, owned by Saudi Prince Alwaleed Bin Talal; and Four Seasons chair Isadore Sharp.

The deal was backed yesterday by 68.98 per cent of votes cast, but only by 51.85 per cent of votes other than from Sharp’s Triples Holdings, Kingdom, Cascade and related parties.

Information from: www.thestar.com

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