Sirius Minerals shares suspended as Anglo American set to take over tomorrow

Trading in Sirius Minerals shares was suspended at 7.30am this morning as Anglo American are set to take over.

Monday, 16th March 2020, 12:00 pm
Updated Monday, 16th March 2020, 12:02 pm
Construction starts at Woodsmith mine. JPI Media

The takeover bid was announced earlier this year on January 20 and approved by shareholders in a crunch vote on March 3.

Sirius Minerals, whose headquarters are based in Scarborough and who were building the £4billion Woodsmith mine at Sneaton near Whitby, was sold for £405m.

The High Court of Justice in England and Wales sanctioned the takeover under section 899 of the Companies Act last Friday March 13.

The takeover will become effective upon the delivery of a copy of the Court Order to the Registrar of Companies, which is expected to happen tomorrow.

Former Sirius shareholders will receive a 5.5p per share payout.