Asciano $6.8 billion buyout clears final hurdle with Australian court approval

July 28, 2016 2:42 AM

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SYDNEY A A$9.1 billion ($6.8 billion) buyout of Australian port and rail freight giant Asciano Ltd (AIO.AX) by global investors was approved by a court on Thursday, clearing the final hurdle for the country's biggest foreign takeover in five years.

Announcing the Supreme Court of New South Wales state had cleared the deal, Asciano said on Thursday its shares will stop trading on July 29. Stockholders will receive payments on Aug. 19.

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