The stock was due to suspended from trading this afternoon following yesterday's Federal Court Approval of its A$9.6 billion takeover by BHP.

The scheme of arrangement between the two companies is now legally effective.

It comes after OZ shareholders overwhelmingly approved the $28.25 per share cash deal at a meeting in Adelaide on Thursday.

OZ declared a fully franked special dividend of $1.75 per share with BHP to pay $26.50 per share cash.

BHP originally offered $25 per share in August 2022, which was rejected by OZ.

The increased price represents a 49.3% premium to OZ's undisturbed closing price of $18.92 per share on August 5 and a 13% increase compared to the original proposal.

The implementation date of the transaction is expected to be May 2.

BHP will take ownership of the Prominent Hill and Carrapateena copper-gold mines in South Australia, the Pedra Branca copper-gold mine in Brazil, the large West Musgrave nickel-copper development project in Western Australia and a number of earlier stage development projects.

BHP is expected to divest the assets in Brazil.

The history of OZ

OZ was formed in June 2008 via the merger of Oxiana and Zinifex and almost didn't survive the year due to the onset of the global financial crisis, rising costs and high debt levels.

It started life with Prominent Hill, the Golden Grove copper-zinc mine in WA, Century zinc mine in Queensland, Avebury nickel mine in Tasmania, Sepon gold-copper mine in Laos and Martabe gold-silver mine in Indonesia.

In early 2009, embattled OZ posted a $2.5 billion loss and agreed to a $2.6 billion takeover from China Minmetals.

However, the Australian government blocked the deal due to Prominent Hill's location within the sensitive Woomera Prohibited Area weapons testing range.

Facing a $1.3 billion debt repayment obligation, OZ agreed to a revised $1.4 billion offer from Minmetals that included Century, Golden Grove, Rosebery and Sepon.

OZ's foundation CEO Andrew Michelmore left the company to join Minmetals (now MMG) and the company welcomed Terry Burgess as its new boss in 2009.

Martabe was sold to China Sci-Tech later in 2009.

In 2011, the cashed-up company paid Teck Resources and prospector Rudy Gomez US$250 million for the Carrapateena development project.

In late 2014, OZ appointed long-time Rio Tinto executive Andrew Cole as CEO, who launched a company wide review.

One of Cole's first moves was the relocation of OZ from Melbourne to Adelaide to be closer to its projects.

The company developed the $1 billion Carrapateena project, achieving first production in late 2019.

OZ acquired the Brazilian assets in 2018 via its takeover of Avanco Resources and moved to 100% of West Musgrave after buying Cassini Resources in 2020.

Shares in OZ traded as low as $6.33 in March 2020 and closed at $28.21.

The acquisition of OZ leaves Sandfire Resources as the only pure-play copper producer in the ASX 200.