Another tick for Felix takeover

YANZHOU Coal Mining has received approval from China’s Development and Reform Commission for its takeover of Felix Resources, which is expected to take place this month.
Another tick for Felix takeover Another tick for Felix takeover Another tick for Felix takeover Another tick for Felix takeover Another tick for Felix takeover

 

Blair Price

The last Chinese consent for Yanzhou is China Securities Regulatory Commission approval.

Felix said the timing of this approval was not known but expected it would occur shortly.

Felix shareholders will vote on the deal on December 8 and the company expects the takeover to be completed by late December.

Yanzhou launched its takeover offer in August at $16.95 a share, but Felix’s two 50c fully franked dividends and a planned post-takeover 5c spin-off listing of its South Australian Coal Corporation subsidiary brought the package to $18 a share.

Shares in Felix are up 4c this morning to $16.89.

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