MAC Copper shareholders approve takeover by Harmony Gold
Shareholders in MAC Copper have voted in favour of a takeover by Harmony Gold Mining.
At meetings held Friday, 98.43% of votes cast backed the Jersey law scheme of arrangement, the company said in a statement. About 87.5% of shareholders present at the court meeting supported the deal. At a separate general meeting, 97.84% of votes were in favour of related resolutions.
Harmony’s wholly owned unit, Harmony Gold (Australia), is acquiring all of MAC’s issued share capital under the transaction worth $1.08-billion announced in May.
The deal now requires approval from the Royal Court of Jersey at a hearing scheduled for October 9. If sanctioned, the scheme is expected to become effective the following day, when court orders will be registered with the Jersey companies registrar.
MAC’s shares would then be suspended from trading on the NYSE after markets close on October 10, while its CHESS Depositary Interests are expected to stop trading on the ASX before the market opens October 13.
The company said it would provide further details on the closing timetable in a separate announcement.
MAC Copper owns the CSA copper mine in New South Wales which produced 41 000 t of copper in 2024. The acquisition follows Harmony's earlier move into copper in Australia which was to buy Eva Copper in 2023.
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