Tucker Anthony Sutro announced today that its shareholders, at a special meeting this morning, approved the acquisition of the company by Royal Bank, as announced in August.

Royal Bank will spend US$625 million in cash for the firm, and will merge it with its broker-dealer unit Dain Rauscher.

The merged unit will be called RBC Dain Rauscher, and it will be headquartered in Minneapolis. The transaction is expected to be completed by the end of October.

Tucker Anthony, based in Boston, is a full-service financial services company with approximately 2,700 employees and several divisions.

Tucker Anthony Inc. is a full-service brokerage and investment firm. Tucker Anthony Sutro Capital Markets provides investment banking, equity research, institutional sales, trading and syndication services

Gibraltar Securities, based in New Jersey, is a municipal finance and underwriting brokerage and investment advisory firm. Branch Cabell, based in Virginia, provides retail brokerage and investment advisory services for individuals and institutions.

Sutro & Co., Inc. is a West Coast brokerage and investment banking firm. Hill Thompson Magid & Co. is a New Jersey-based wholesale OTC trading firm.

Freedom Capital Management Corp. is Boston-based asset management firm, and Cleary Gull Investment Management Services Inc. is a Milwaukee-based asset management firm.