PERTH (miningweekly.com) – The Foreign Investment Review Board (FIRB) has approved Korean major POSCO International’s takeover of ASX-listed Senex Energy, issuing the suitor with a ‘no objection’ letter.
POSCO was offering A$4.60 a share for each Senex share held, with the deal being unanimously recommended by the Senex board.
The transaction has already been cleared under the Republic of Korea’s Foreign Exchange Transaction Act, but is still subject to shareholder approval, court approval, and Korean foreign exchange approvals.
If approved, the agreement is expected to complete in late March 2022.