Allana shareholders approve Israel Chemicals takeover

By James Sean Dickson
Published: Tuesday, 16 June 2015

Equity holders in Allana have approved ICL’s buyout offer by a strong, 9:1 margin. ICL has increasingly looked abroad to international investments as business conditions worsen at home.

Allana Potash Corp. shareholders have approved a Canadian dollar (C$) 137m ($111.1m*) buyout offer by Tel Aviv-based Israel Chemicals Ltd (ICL).

The TSX-listed company is expected to finalise the arrangement with ICL on or about 22 June 2015, after 96% of its security holders and 90% of its shareholders** voted in...

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