Mining company, Mineral Resources (ASX:MIN) has inked a deal to acquire all shares of Atlas Iron via a scheme of arrangement.
Atlas shareholders will receive one new Mineral Resources share for every 571 Atlas shares held on the record date.
That’s a 59 per cent premium to the closing price of Atlas and Min resources shares on the 4th of April 2018.
Atlas Iron directors have unanimously recommended that members vote in favour of the deal.
The company says the deal provides Atlas shareholders with continued exposure to the Atlas business as well as exposure to a diversified mining company.
Shares in Mineral Resources (ASX:MIN) last traded at $17.24