Shareholders of Mapletree Commercial Trust (MCT) and Mapletree North Asia Commercial Trust (MNACT) have approved a S$4.22 billion ($3.07 billion) merger, which creates the Singapore exchange’s third largest REIT, after sponsor Mapletree Investments sweetened the deal with an all-cash payout option. During an extraordinary general meeting held Monday, the implementation of the scheme garnered consent from 91.67 percent of all votes cast by MCT shareholders and 99.03 percent of the votes from MNACT shareholders, according to ajoint same-date news releasefrom the respective managers of the trusts. MCT will acquire all of MNACT’s issued and paid-up units under the scheme,paving the way for the creationof Mapletree Pan Asia Commercial Trust (MPACT), which is expected to become theseventh larges