Share trading in Webster Limited was suspended at the close of trading on Friday.

That followed the New South Wales Supreme Court approving a scheme of arrangement, allowing an indirect wholly owned subsidiary of the Canadian Public Sector Pension Investment Board (PSP Investments) to acquire Webster shares.

The deal was overwhelmingly supported by Webster shareholders in a vote last week.

Webster shareholders will get $2 per share for every ordinary share they hold as of 7pm on February 11.

Webster has walnut interests in Tasmania and New South Wales, plus agricultural assets and water entitlements in new South Wales.

It was founded in Tasmania in 1831 and was headquartered in Tasmania for most of its history.

PSP Investments invests for the pension plans of Canada's federal public service and armed forces, the Royal Canadian Mounted Police (the Mounties) and the Canadian Armed Forces Reserve Forces.

In October, Webster said it believed PSP Investments would be a "logical and suitable" owner of the Webster assets.

"PSP Investments has a proven track record in managing and investing in agricultural assets over the long term for sustainable value creation and, therefore, we believe this transaction represents a positive outcome for all stakeholders in our business," Webster managing director and chief executive Maurice Felizzi said at the time.