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Australian court approves BHP’s $6.4 billion OZ Minerals takeover
Global Banking & Finance Review®
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(Reuters) – Global miner BHP Group Ltd said on Monday the Federal Court of Australia had approved its A$9.6 billion ($6.44 billion) takeover of OZ Minerals Ltd.
(Reuters) – Global miner BHP Group Ltd said on Monday the Federal Court of Australia had approved its A$9.6 billion ($6.44 billion) takeover of OZ Minerals Ltd.
The court approval follows overwhelming support from OZ Minerals shareholders for the deal, which is the third largest in global mining in recent months.
Shares of the Australian copper producer will be suspended from trading on the local bourse at the close of trading on Tuesday.
($1 = 1.4914 Australian dollars)
(Reporting by Echha Jain in Bengaluru; Editing by Rashmi Aich)
A takeover occurs when one company acquires control over another company, typically by purchasing a majority of its shares. This can lead to changes in management and business strategy.
A shareholder is an individual or institution that owns shares in a company. Shareholders have a claim on the company's assets and earnings and may receive dividends based on their ownership.
Corporate governance refers to the systems and processes by which companies are directed and controlled. It encompasses the relationships among stakeholders and the goals for which the corporation is governed.
A stock exchange is a marketplace where securities, such as stocks and bonds, are bought and sold. It provides a platform for companies to raise capital and for investors to trade shares.
Market capitalization is the total market value of a company's outstanding shares of stock. It is calculated by multiplying the share price by the total number of shares outstanding.
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