Consolidated Thompson shareholders approve takeover by Cliffs
Consolidated Thompson's shares dropped two cents to close at $17.11 on Friday after the company announced its shareholders have approved the friendly takeover by Cliffs Natural Resources Inc.
Under the deal, made public in mid-January, Cliffs Natural Resources acquired Consolidated Thompson for CDN$4.9 billion (US$4.6 billion) or C$17.27 in cash per common share. The transaction is expected to close in the second quarter.