After initially announced in January, a majority of 99.6% shareholders agreed to the proposal.
“BMO is financially strong and has a clear commitment to grow its asset management business. F&C will become the European centrepiece to deliver this growth,” chief executive officer of F&C Richard Wilson said.
He added: “I am delighted that F&C’s shareholders voted in favour of the cash acquisition of F&C by the Bank of Montreal. This reflects our view that this is an attractive transaction for both companies and will prove to be an excellent strategic, financial and cultural fit.”
Subject to approval, the deal will be formally completed on 7 May. F&C shares will be suspended at 5pm on 6 May.
The F&C group has seen significant change over the past decade, merging with ISIS in 2004, before taking over Thames River in 2010. It was taken over by activist investor Edward Bramson in 2011, who embarked on significant cost-cutting and a reorganisation of the business before standing down last year.