The shareholders of London-listed Sirius Minerals have approved a takeover by global mining major Anglo American.
Almost 62% of the shareholders who voted at a general meeting in London on Tuesday voted for the deal. These shareholders represented 80% of the shares.
The approval now paves the way for Anglo American to buy Sirius at 5.5p a share, valuing the company at £404.9-million. Some shareholders believe the price is too low and have urged Anglo American to raise its offer.
The takeover will secure the future of Sirius’ fertiliser mine project, in North Yorkshire.