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Felix shareholders approve Yanzhou's $3.2 bln offer
December 8, 2009 / 5:57 AM / 8 years ago

Felix shareholders approve Yanzhou's $3.2 bln offer

MELBOURNE, Dec 8 (Reuters) - Shareholders in Australian coal miner Felix Resources Ltd FLX.AX approved a A$3.3 billion ($3.0 billion) takeover offer from Chinese firm Yanzhou Coal Mining Co (1171.HK), Felix said on Tuesday.

Felix shareholders will receive A$18 a share, including A$16.95 in cash from Yanzhou, plus dividends and shares in exploration properties in South Australia. The shares last traded at A$16.87 ahead of the vote.

To secure the Australian government’s clearance for the deal in October, Yanzhou Coal promised to list the local unit on the Australian stock market again by 2012 and cut its ownership to less than 70 percent. ($1=1.091 Australian Dollar) (Reporting by Sonali Paul)

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