Shareholders of Australian miner OZ Minerals have voted in favour of BHP’s A$9.6 billion takeover by way of a scheme of arrangement. 

Reuters reported that the majority of shareholders approved an offer of A$26.50 cash and a A$1.75 special dividend paid per OZ Minerals share. 

OzMinerals ProminentHill

“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,” said BHP CEO Mike Henry.

“We look forward to bringing together our talent and resources to create an even stronger organisation.”

The deal, Reuters said, will add to BHP's copper exposure and boost its nickel supply. OZ Minerals owns the Prominent Hill and Carrapateena copper-gold mines in South Australia; the West Musgrave nickel project in Western Australia; and the Carajás East Hub in Brazil, which includes the Pedra Branca underground copper-gold mine.

Sources: Reuters and BHP