Fortescue Metals Group (ASX:FMG) has got the green light to go through with its off-market takeover for all Red Hawk Mining (ASX:RHK) shares – and importantly, its projects – after fulfilling the last condition in its January offer.

With this last contractual hurdle cleared, Fortescue can now put a bow on its $254 million Red Hawk takeover. The premium approach came in at $1.05 a share.

Everything will now wrap up by March 3, pending any last-gasp changes. It’s more of a ‘finish line’ move than anything too; Twiggy Forest’s mining powerhouse had already picked up as much as 75% of the $253 million smallcap.

FMG will soon control Red Hawk’s valuable Blacksmith project, the Pilbara’s largest direct shipping iron ore operation not already in the hands of the big producers.

The takeover makes sense for Fortescue: Blacksmith is just 30 kilometres from Solomon.

Of particular value at the now-acquired Pilbara project – which expands Fortescue’s 87,000sqkm Western Australian heartland – is the 243 million tonnes of iron ore a mineral resource estimate said is waiting to be dug up.

Fortescue has recently wanted to add more steelmaking ingredients – this fulfils that aim.

Earlier in the process, the takeover was given a tick by BDO Corporate Finance, with the independent expert deeming the offer “fair and reasonable” to shareholders.

Red Hawk’s powerbrokers will be happy everything is now formally tied up; the miner’s board backed the Fortescue takeover bid from the beginning.

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“The board is very proud of the significant work completed by the Red Hawk team to date… and believes that the offer is well-deserved recognition of this hard work and the significant value it has created,” the board said in January.

Red Hawk will open at $1.20 a share (where it’s been since January 28).

Meanwhile, FMG is expected to sell 0.3% higher on this news.

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