The shareholders of Africa-focused copper developer MOD Resources will meet on October 1 to vote on the A$167-million takeover offer from fellow-listed Sandfire Resources, after the Supreme Court of Western Australia approved the transaction.
Sandfire is offering each MOD shareholder either 45c in cash for each of their shares, capped at A$41.6-million or 25% of the overall consideration, or 0.0664 Sandfire shares for each MOD share held.