Paladin Energy goes Fission for uranium in Canada

Uranium

WRITTEN BY Angela East

Paladin Energy (ASX:PDN) has inked an all-scrip deal to acquire Canada’s Fission Uranium (TSX:FCU) and list on the Toronto Stock Exchange (TSX).

The Australia-headquartered uranium producer has entered into a definitive arrangement agreement to acquire all of the shares of Fission Uranium in exchange for 0.1076 Paladin shares for each Fission share held.This values Fission Uranium at C$1.14 billion ($1.25 billion), or C$1.30 per share, which is a 25.8% premium to the closing price of Fission Shares on the TSX last Friday, 21 June, and a 30% premium to the 20-day volume-weighted average price of Fission shares to 21 June.On completion of the deal, Fission shareholders will own 24% of Paladin, which will have a pro-forma market capitalisation of about US$3.5 billion ($5.26 billion).Paladin has also applied to list its shares on the TSX so Fission shareholders will receive TSX-listed Paladin shares.Paladin CEO Ian […]

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