OZ Minerals shareholders approve $1.4bln Minmetals deal

SYDNEY, June 11 Thu Jun 11, 2009 1:53am EDT

Related Topics

SYDNEY, June 11 (Reuters) - Shareholders in Australian miner OZ Minerals (OZL.AX) approved Chinese state-owned Minmetals' sweetened $1.4 billion deal to buy most of the indebted miner's assets, OZ Minerals said in a statement on Thursday.

Minmetals raised its offer late on Wednesday by 16 percent to $1.386 billion, hours ahead of the shareholder vote, amid talk investment bank Macquarie Group Ltd (MQG.AX) was planning to launch a counter-proposal.

Earlier on Thursday Minmetals said it would take delivery of the assets within a week [nPEK266341]. ($1=A$1.25) (Reporting by Denny Thomas;)

FILED UNDER: