The timeline for Paladin Energy’s $1.14-billion bid to acquire Kelowna, B.C.-based Fission Uranium has been extended to Dec. 30 by Canada’s Innovation Minister François-Philippe Champagne, public filings show. The Australian company’s takeover still needs to be cleared under the Investment Canada Act, with “no certainty” it will be approved “in a timely manner or at all,” Paladin noted. (The Logic)
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The timeline for Paladin Energy’s $1.14-billion bid to acquire Kelowna, B.C.-based Fission Uranium has been extended to Dec. 30 by Canada’s Innovation Minister François-Philippe Champagne, public filings show. The Australian company’s takeover still needs to be cleared under the Investment Canada Act, with “no certainty” it will be approved “in a timely manner or at all,” Paladin noted. (The Logic)
Talking point: This isn’t the first hurdle the deal has faced. Chinese mining company CGN, Fission’s biggest shareholder, sought to block the acquisition in September. A shareholder vote planned for August was pushed back, too. If completed, Paladin would become one of the world’s largest uranium producers, as uranium demand is forecasted to rise 28 per cent by 2030, according to the World Nuclear Association.
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