Alta Copper’s $1.40-per-share merger with Fortescue awaits critical shareholder vote
Alta Copper Corp. has proposed a merger with Fortescue Ltd., offering shareholders an all-cash deal of C$1.40 per share. The agreement, set in January 2025, now awaits approval from the company’s investors at an upcoming meeting.
The merger requires strong backing to proceed. Shareholders must approve the plan with at least 75% of the votes cast in favor. Additionally, a simple majority of disinterested shareholders—those without a direct stake in the outcome—must also support the deal.
An independent special committee of Alta Copper’s board has already reviewed and negotiated the terms. The arrangement has further been assessed by external fairness opinions and a formal valuation, reinforcing its credibility. To ensure broad participation, voting can be done online or by telephone. Shareholders needing assistance can reach out to Laurel Hill Advisory Group for guidance. The company has urged all investors to vote 'FOR' the proposal, highlighting the immediate liquidity and certainty the cash offer provides.
The merger’s success hinges on meeting two key thresholds: 66 2/3% approval from all shareholders and optionholders voting together, along with the 75% requirement from those casting ballots. If passed, the deal will finalize Fortescue Ltd.’s acquisition of Alta Copper Corp. under the agreed terms.
