ARMZ To Buy Australian Uranium Co. Mantra For $1.2B

Law360, New York (December 15, 2010, 2:08 PM EST) -- ARMZ Uranium Holding Co., a Russian state-owned company and the fifth-largest uranium producer in the world, has agreed to pony up nearly $1.2 billion to purchase Australian uranium firm Mantra Resources Ltd.

Under the deal, announced Wednesday, each common share of Mantra will be exchanged for a cash payment of AU$8. The offer represents a 15.5 percent premium of Mantra's 20-day volume weighted average price on the Australian Securities Exchange.

Mantra's business is focused on the development of the Mkuju River project in Tanzania, which has...
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