Rio Tinto Notches Up Friendly Hathor Bid To $636M

Law360, New York (November 17, 2011, 7:54 PM EST) -- Rio Tinto PLC shot back at uranium producer Cameco Corp. on Thursday in their bidding war for Canadian uranium mining company Hathor Exploration Ltd., upping its previous CA$578 million (US$562 million) bid to CA$654 million, an increase of about 13.1 percent.

The company announced the increased offer of CA$4.70 per share for all of Hathor's common shares, which tops a hostile offer Cameco made Monday of CA$4.50 per share, or CA$625 million.

Rio Tinto first announced its CA$578 million friendly takeover offer in October. Hathor’s board...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.