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Tronox Shareholders Approve Exxaro Mineral Sands Acquisition

10:53 AM MDT | May 30, 2012 | Lindsey Bewley

Tronox says its stockholders have approved the acquisition of Exxaro Resources’s (Pretoria, South Africa) mineral sands business. Tronox plans to combine the acquired business with its existing businesses under a new Australian holding company, Tronox Limited. Under the terms of the transaction, Exxaro will receive approximately 38.5% of the voting securities of Tronox Limited as consideration for its mineral sands business, and the mineral sands business will be contributed on a debt-free basis.  Upon completion of the transaction, the company...

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