The Foreign Investment Review Board (FIRB) has approved the acquisition of ASX-listed Azure by SH Mining – a bid vehicle jointly owned by Sociedad Quimica y Minera de Chile (SQM) and Hancock Prospecting.
SH Mining will acquire Perth-based Azure for $3.70 a share.
Azure said on Tuesday that the scheme remained subject to “very limited conditions”.
The deal would go before the Supreme Court of Western Australia on Wednesday afternoon.