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China, Australia clear Felix takeover

China, Australia clear Felix takeover

Felix Resources (ASX:FLX) has received both Chinese and Australian approval to be acquired by Chinese coal miner Yanzhou for $16.95 per share, clearing the sale to take place from tomorrow.

China’s Securities Regulatory Commission today signed off on the acquisition, allowing Felix to lodge a request to the Federal Court of Australia.

The Court subsequently lent its own approval to the sale, Felix announced.

As a result, Felix expects to be delisted after close of trading tomorrow, with the acquisition to commence on December 23.

Felix shareholders had approved the acquisition offer on December 8. FLX shares are currently trading at $16.88.

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Tags coalFelix ResourcesMergers and acquisitions

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