Courts approve New West takeover (September 19, 2007)

Fronteer Development Group (FRG-T, FRG-X) and New West Gold (NWG-T) have obtained court approval for Fronteer’s takeover of New West, a deal that is now expected to close on Sept. 24.

New West got 100% approval for the merger from shares voted at a general meeting on Sept. 13. The deal will see Fronteer issue 0.26 of a Fronteer share for one New West.

New West shareholders will hold about 18% of Fronteer, which will take on a large portfolio of New West properties in Nevada.

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