Shareholders in Australian grain handling company Grainco have voted to approve a merger with GrainCorp.

The merger, priced at A$1.39 a share, values Grainco at A$105m (US$69.2m), and will create a dominant grains handler on the east side of the country.

Wheat exporter AWB has opposed the merger, but it has been given the go-ahead by the Australian Competition and Consumer Commission, reported Reuters.