The Federal Court of Australia has approved the scheme of arrangement for BHP Lonsdale Investments Pty Limited, a subsidiary of BHP Group Limited, to acquire 100% of the shares in OZ Minerals.
The Scheme is expected to go into effect on 18 April 2023, following the filing of the Court’s orders with the Australian Securities and Investment Commission. OZ Minerals shares will be suspended from trading on the ASX as of that day’s close.
The Scheme is scheduled to go into effect on 2 May 2023.
OZ Minerals shareholders will receive a total cash consideration of A$28.25 per OZL share, which includes:
Adertisement
- BHP’s scheme consideration of A$26.50 per OZL share held at the scheme record date, which is 7:00 pm on 24 April 2023; and
- OZ Minerals will pay a fully franked special dividend of A$1.75 for each OZL share held on the special dividend record date, which is 7:00 pm on 21 April 2023.
A combination of current cash reserves and debt facility profits will pay BHP’s cash payment.
