MAC Copper to delist after court approves Harmony Gold acquisition
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The news: MAC Copper will be delisted from the ASX after a court approved South African gold miner Harmony Gold’s takeover of the copper producer.
The context: The last day of dealings in MAC Copper shares on the ASX will be 10 October and will be suspended before trading on 13 October. The scheme was approved by the Royal Court of Jersey, where the company is registered.
MAC Copper shares will be fully delisted from the ASX on 3 November and delisted from the New York Stock Exchange on 24 October.
Harmony is acquiring MAC Copper for USD12.25 ($18.81) per share, which gives the copper producer an implied equity value of more than USD1 billion.
The deal had received Foreign Investment Review Board approval and South African Reserve Bank approval in August.
The source: ASX
