Last month, IGO was forced to increase its bid by 15% to $3.87 per share after the original $3.36 per share offer, announced in December, was deemed not fair or reasonable to Western Areas shareholders by independent expert KPMG.

KPMG deemed the updated offer to be in the best interests of shareholders, in the absence of a superior proposal.

The offer has the full backing of the Western Areas board.

At a meeting held yesterday, 94.2% of the votes cast were in favour of the scheme of arrangement, while 78.8% of shareholders present and voting voted in favour.

Western Areas will now seek approval of the scheme by the Supreme Court of Western Australia at a hearing set for Tuesday, June 7.

If approved, Western Areas shares will be suspended from the ASX on June 8.

Implementation of the deal is scheduled to occur on Monday, June 20.

Western Areas shares closed yesterday at the bid price of $3.87, while $8.5 billion IGO closed at $11.16.