CAPITAL MARKETS

Aurox backs Atlas merger

AUROX Resources shareholders have overwhelmingly approved the company's $A138.5 million merger wi...

MiningNews.Net

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There were no votes lodged against the merger.

Final Federal Court of Western Australia approval is expected to be received at a hearing scheduled for next Thursday, August 12.

Under the scheme, Aurox shareholders will receive one Atlas share for every three Aurox shares held as of August 20.

At the time the offer was made on March 5, it was at a 143% premium to the 30-day volume weighted average trading price of Aurox shares, valuing Aurox shares at A74c.

Based on Atlas’ share price of $2.12, the deal values Aurox at $138.5 million.

Shares in Atlas Iron were 1.42% higher in afternoon trade to $2.15, while shares in Aurox were up 2.16% to 71c.

 

 

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