JOHANNESBURG (miningweekly.com) – The Federal Court of Australia on Friday approved China’s Zijin Mining’s acquisition of Norton Gold Fields.
Under the scheme of arrangement between the companies, Norton shareholders will receive 25c in cash for each share they hold.
Zijin, which was already a majority shareholder of Norton, last month increased its offer price for the Australian gold producer from 23c a share. Norton’s board had endorsed the takeover offer.
Norton's shares would be suspended from trading on the ASX at the close of trading on Friday, June 19.