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OZ Minerals shareholders approve $1.4bln Minmetals deal

Published 06/11/2009, 01:53 AM
Updated 06/11/2009, 03:48 AM
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SYDNEY, June 11 (Reuters) - Shareholders in Australian miner OZ Minerals approved Chinese state-owned Minmetals' sweetened $1.4 billion deal to buy most of the indebted miner's assets, OZ Minerals said in a statement on Thursday.

Minmetals raised its offer late on Wednesday by 16 percent to $1.386 billion, hours ahead of the shareholder vote, amid talk investment bank Macquarie Group Ltd was planning to launch a counter-proposal.

Earlier on Thursday Minmetals said it would take delivery of the assets within a week [nPEK266341]. ($1=A$1.25) (Reporting by Denny Thomas;)

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