FIRB approves Baosteel, Aurizon bid for Aquila

Foreign Investment Review Board has no objection to takeover deal.

The Foreign Investment Review Board has approved a joint takeover bid from Baosteel Resources and Aurizon Operations (AZJ) for Aquila Resources (AQA) for $3.40 cash per share.

The board said it has no objection to the bid, which now remains subject only to a condition of 50 per cent minimum acceptance by shareholders and other customary conditions.

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