Sierra Rutile and Iluka Investments receive German antitrust clearance for merger

The German Antitrust Authority cleared the merger between Sierra Rutile and Iluka Investments. The merger is expected to become effective and close on 29 November 2016. Sierra Rutile shareholders will receive 36 pence cash per share, and Iluka Resources will assume Sierra Rutile's debt of approximately US$60 million.

“The German Antitrust Authority has given AIM-listed Sierra Rutile and Australian mineral sands miner Iluka Investments clearance to merge – the second of two key conditions to the merger which had to be satisfied for the merger to go ahead.”pymnts.com

• 1 source
• pymnts.comCPI | Germany: Sierra Rutile and Iluka get merger go-aheadCPINov 22, 2016

Summarized from public sources; check the original articles before acting on it.