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Shareholders Approve Morgan-Chase Deal

The meeting's outcome should surprise no one.

Shareholders of

Chase Manhattan

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and

J.P. Morgan

(JPM)

Friday cleared the companies' proposed $32 billion merger at a special meeting.

A spokeswoman for J.P. Morgan said both sets of shareholders approved the deal and that closing is scheduled for Dec 31. The new company, to be called J.P. Morgan Chase, will start trading under symbol JPM beginning Jan. 2 on the New York Stock Exchange.