BHP has announced that OZ Minerals Ltd (OZL) shareholders have approved the scheme of arrangement for BHP Lonsdale Investments Pty Ltd, a wholly owned subsidiary of BHP Group Ltd, to acquire 100% of the shares in OZL.
The scheme still requires the approval of the Federal Court of Australia. OZL is expected to apply for court orders approving the scheme on 17 April 2023. If approved by the Court, the scheme is expected to become effective on 18 April 2023 and be implemented on 2 May 2023.
Mike Henry, BHP CEO, said:
“This is a strong endorsement from OZ Minerals shareholders on the value they will receive under the scheme, and the hard work of the OZ Minerals team over many years to create a successful business. We look forward to bringing together our talent and resources to create an even stronger organisation.”