Felix Shareholders Welcome Yanzhou Coal Deal

7 December 2009 (Last Updated December 7th, 2009 18:30)

Felix Resources has received the go-ahead from shareholders for a takeover by Yanzhou Coal Mining, the Chinese firm that has offered $3.2bn for the Australian miner. The Chinese Government had already approved the deal, the biggest of its sort between the two nations, and 99.8% of Felix

Felix Resources has received the go-ahead from shareholders for a takeover by Yanzhou Coal Mining, the Chinese firm that has offered $3.2bn for the Australian miner.

The Chinese Government had already approved the deal, the biggest of its sort between the two nations, and 99.8% of Felix shareholders approved the deal.

The only remaining hurdle will be to receive approval from the Federal Court of Australia and consent from the China Securities Regulatory Commission.