Uranium Energy (NYSEMKT: UEC) stock plunged today and was trading down 11.4% as of 12:25 p.m. ET.
The uranium miner made a huge acquisition announcement today, but the stock couldn’t escape the panic-selling that gripped the broader markets today as fears of rising inflation and a recession loomed large. So what
Monday morning, Uranium Energy announced plans to acquire Canada-based uranium miner UEX in an all-stock deal worth about 234 million Canadian dollars.Each UEX shareholder will receive 0.0831 shares of Uranium Energy. The exchange ratio implies an almost 50% premium to UEX’s June 10 closing price on the Toronto Stock Exchange.Combined, the two companies will have the largest uranium asset base focused exclusively on North America. UEX owns stakes in several uranium deposits in Canada, especially in the Athabasca basin, a region known to have world’s largest source of high-grade uranium. Now what Uranium Energy hasn’t generated any […]
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