Stakeholders will meet on Feb. 20 to determine the future of Quadra FNX.
In a press release, the company indicated it had received authorization from the Supreme Court of British Columbia to hold a meeting during which stakeholders will vote on an arrangement that would see AcquireCo, a wholly owned subsidiary of Polish company KGHM Polska Miedz S.A., acquire Quadra FNX.
If the resolution is passed, Quadra FNX will become a wholly owned subsidiary of AcquireCo.
Quadra's board of directors is unanimously recommending securityholders vote in favour of the resolution approving the arrangement.
The meeting will be held at 10 a.m. on Feb. 20 in Vancouver.
Founded in 1961, KGHM is headquartered in Lubin, Poland, and has a focus on copper and silver mining. It is Europe's largest producer of mined copper and is the ninth larger mined-copper producer and third-largest silver producer in the world.
In 2010, KGHM produced 937.8 million pounds of mined copper, 1.206 billion pounds of refined copper, 37.3 million ounces of silver and 24,949 ounces of gold.
The company and its subsidiaries currently employ more than 28,000 people.
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