13th Mar 2020 17:43
(Alliance News) - Anglo American PLC's acquisition of Sirius Minerals PLC was approved by the High Court of Justice of England and Wales, the potash mine developer said late on Friday.
In January, Anglo American made a formal offer for Sirius Minerals, valuing the firm's equity at GBP404.9 million.
Anglo American offered 5.50 pence per Sirius share.
Sirius closed 0.1% higher at 5.49p each on Friday in London, soon-to-be owner Anglo American ended the day up 8.2% at 1,335.60p.
The only step left for the takeover, Sirius said, is a copy of the court order to reach the Registrar of Companies. This is expected to occur on Tuesday.
By Eric Cunha; [email protected]
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