I&M Holdings Limited (NASE:I&M.O) entered into an agreement to acquire 65% stake in Burbidge Capital Limited on October 15, 2015. The acquisition is yet to be approved by the regulatory bodies including the Central Bank of Kenya, Capital Markets Authority and Competition Authority of Kenya and approval from shareholders of I&M Holdings. The proposed transaction may have a material effect on the value of the shares of I&M Holdings. On May 18, 2016, the shareholders of I&M Holdings approved the deal. I&M Holdings Limited (NASE:I&M.O) completed the acquisition of 65% stake in Burbidge Capital Limited on August 16, 2016.