Posted on 3125 Orocobre (TSX: ORL) and Galaxy Resources Limited have announced entry into a binding Merger Implementation Deed (MID) where the two companies will merge in a Galaxy Scheme of Arrangement (Scheme) where Orocobre will acquire 100% of the shares in Galaxy. Shareholders of Galaxy will receive 0.569 Orocobre shares for each Galaxy share held at the record date of the Galaxy Scheme of Arrangement. At the execution of the Scheme, Orocobre shareholders will own 54.2% of the fully diluted share capital of the combined entity and Galaxy shareholders will own the remaining 45.8%. The board of both companies have unanimously recommended the Scheme and plan to vote all the shares they hold in favour of the Scheme. Martin Rowley shall become Non-Executive Chairman as Robert Hubbard would become Deputy Chairman, as Martin Perez de Solay will remain CEO and Managing Director of the group.