Still, El Paso is banking on still receiving shareholder approval.
The Dutch beer giant Heineken also recently received shareholder approval to buy Asia Pacific Breweries of Singapore for around $4.6 billion.
Yahoo will continue as an independent company until the deal receives shareholder and regulatory approval, the companies said.
Aquarius Platinum added 17p to 197p as it received shareholder approval for its proposed takeover of Ridge Mining, which is developing projects in South Africa.
In 2002, for example, 17percentt of companies receiving shareholder proposals on corporate governance issues responded by agreeing to change their practices, according to the Investor Responsibility Research Center.
Following active engagement, many of the companies receiving shareholder proposals entered into agreements to bring management declassification proposals that would require all directors to stand for election each year.
British Land has received shareholder approval to sell a 50% share of its city of London office complex, Broadgate, to Blackstone, the US private equity firm, which will raise £1bn.
Another company that recently received shareholder approval to reincorporate in Bermuda, the Leucadia National Corporation, said yesterday that it had not decided whether to go ahead and that it had until 2005 to decide.
Three months after announcing the transition, Line has officially received shareholder approval to appoint Takeshi Idezawa, the messaging app's former chief operating officer, as its chief executive officer.
China Merchants Bank was down by the daily trading limit of 10%, to 21.08 yen ($3.07), after receiving shareholder approval to buy a majority stake in Hong Kong's Wing Lung Bank.
Customers receive a "shareholder certificate" with their shoes, which qualifies them as a "voting members of the Blackspot Anticorporation" and grants them access to an online membership zone.
