US – Consulting firm Watson Wyatt & Co. says it has won shareholder approval for a share issue related to its merger with European affiliate Watson Wyatt LLP (Updates with result of vote).

It said in a statement that its shareholders approved the issuance of around 11m shares in connection with the “acquisition of assets and assumption of liabilities of Watson Wyatt LLP”. The vote took place a special meeting in Washington hotel today.

Shareholders also approved the election of Watson Wyatt LLP managing partner Babloo Ramamurthy to the board.

“We have just passed an important milestone on our way to completing the business combination,” said president and chief executive John Haley.

“With the support of our shareholders, we are now one step closer to better meeting the global needs of our clients by fully integrating our resources and expertise and by investing as a single firm.”

The company added that the “main members” of Reigate-based Watson Wyatt LLP approved the transaction on July 19, 2005.

It said: “The combined organization will be a global leader of human resource and financial management consulting services, providing services in 32 countries and 90 offices worldwide.”