Cameco Ups Ante In Hathor Tussle With $615M Offer

Law360, New York (November 14, 2011, 2:10 PM EST) -- The fight for Canadian uranium mining company Hathor Exploration Ltd. took another turn Monday as uranium producer Cameco Corp. announced an increased offer for the company of CA$4.50 per share, or CA$625 million (US$615 million).

That offer exceeds a CA$4.15 per share, or CA$578 million, friendly takeover offer that U.K.-based mining giant Rio Tinto PLC announced in October. Hathor’s board had urged shareholders to reject Cameco's earlier, CA$3.75-per-share proposal, and later backed Rio Tinto's offer.

Cameco on Monday said its most recent, all-cash offer represented an...
To view the full article, register now.