Fission Could Go Hostile After JV Partner Snubs $163M Bid

Law360, New York (August 26, 2013, 1:27 PM EDT) -- Canadian miner Fission Uranium Corp. threatened Monday to go hostile in its bid to take over rival Alpha Minerals Inc. after the target company ignored a CA$171 million ($163 million) buyout offer that expired over the weekend.

If the companies agree to terms, Fission would take full control of the Patterson Lake South uranium project, which it operates. Fission and Alpha, a gold and uranium miner, each hold 50 percent of the joint venture, situated in northern Saskatchewan's resource-rich Athabasca basin.

British Columbia-based Fission presented its...
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.