Wickes Merger Approved: Shareholders of Santa Monica-based...

Wickes Merger Approved: Shareholders of Santa Monica-based Wickes Cos. have approved the proposed merger with WCI Holdings. The merger, which is the final step in the acquisition of all outstanding shares of common stock by WCI Holdings, became effective immediately. WCI Holdings is jointly owned by Blackstone Capital Partners L.P. and Wasserstein Perella Partners L.P. Wickes’ new owners have been selling off assets from the retailing-manufacturing conglomerate since they acquired an 88% stake in Wickes on Dec. 8 for about $539 million. Among the units sold were Kayser-Roth Apparel, Wickes Financial and Wickes Furniture.