Franco-Nevada Mining (TSE) has succeeded in taking over Redstone Resources, its major shareholder.
Franco offered Redstone shareholders one Franco-Nevada common share for every 20 Redstone shares held.
Almost 14.3 million Redstone shares were deposited before the offer expired on Jan. 19. As a result, Franco increased its ownership in the base metal royalty company to 95.6% from 32%.
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