Allana shareholders approve Israel Chemicals takeover
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...