Paladin Energy Ltd (PALAF)
- Reuters
Australia's Paladin Energy to buy Canada's Fission Uranium for $833 million
The deal comes at a time when prices for uranium, used to fuel most of the world's nuclear reactors supplying 16% of the global energy, has increased significantly last year due to rising demand and limited supply. Under the offer, Fission shareholders will receive 0.1076 shares of Paladin for every Fission share held, the company said, adding the deal implies a value of C$1.30 per share for the Canadian miner, a 25.8% premium to its closing price of C$1.03 on Friday. Paladin has applied for listing its stock on the Toronto Stock Exchange (TSX), where Fission shareholders will own 24% Paladin shares, the company said.
- CNW Group
Paladin Energy to acquire Fission Uranium creating a clean energy leader
Paladin Energy Limited (ASX: PDN) (OTCQX: PALAF) ("Paladin") and Fission Uranium Corp. (TSX: FCU) (OTCQX: FCUUF) (FSE:2FU) ("Fission") are pleased to announce they have entered into a definitive arrangement agreement (the "Agreement"), pursuant to which Paladin will acquire 100% of the issued and outstanding shares of Fission ("Fission Shares") by way of a court approved plan of arrangement under the Canada Business Corporation Act (the "Transaction").
- Zacks
Paladin Energy (PALAF) Is Up 4.71% in One Week: What You Should Know
Does Paladin Energy (PALAF) have what it takes to be a top stock pick for momentum investors? Let's find out.
