Supreme Court approves Northern Star and Saracen mega merger

The Northern Star Resources Ltd (ASX: NST) share price closed slightly higher this afternoon at $13.08, a 0.85% lift.

Earlier today, Northern Star announced that the Supreme Court of Western Australia approved the scheme of arrangement by which the company will acquire all of the shares of Saracen Mineral Holdings Limited (ASX: SAR).

The Saracen Mineral share price also closed relatively flat at $4.89 today on the news, up 0.58%. Saracen has a market capitalisation of $5.5 billion and 1.1 billion shares outstanding. Over the past year, the Saracen share price has gained more than 24%.

What’s next for Saracen and Northern Star?

Saracen is expected to lodge a copy of the court’s orders tomorrow, Wednesday 3 February 2021, with…