Rio Tinto Bids $570M For Uranium Co. With McCarthy's Aid

Law360, New York (October 19, 2011, 3:38 PM EDT) -- U.K.-based mining giant Rio Tinto PLC on Wednesday announced a CA$578 million (US$570 million) friendly takeover offer for Canadian uranium mining company Hathor Exploration Ltd., which is already the target of a hostile bid from uranium producer Cameco Corp.

The companies said in a statement that Rio Tinto would make an all-cash offer of CA$4.15 per common share for Hathor, more than the CA$3.75 per share proposal from Cameco. Hathor’s board previously rejected Cameco's CA$520 million offer.

Like Cameco, Rio Tinto has its sights set on...
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