Shareholders at Lithium-ion and lead-acid battery separator firm Polypore International have approved the sale of the firm for around $3.2billion.
Approval for the deal – first announced in February – was obtained during a meeting on May 12 and paves the way for the deal to go through.
The U.S. company is set to sell its energy storage business to Japanese firm Asahi Kasei Corporation for around $2.2billion and its Separations Media segment to U.S. based 3M Co for around $1billion.
Regulatory authorities of the relevant countries are now examining the contemplated transactions.
Completion of the sell-off remains subject to the closing of both sales and to customary conditions, including receipt of applicable regulatory clearances.
Read more about the sale here
