Two S&P/ASX 200 Index (ASX: XJO) uranium shares have come out with big news this morning. A morning that sees the ASX 200 down 1.7%, following a sharp sell-off in US stock markets overnight.

Which uranium companies are we talking about?

Read on!

ASX 200 uranium share on the acquisition path

Paladin Energy Ltd (ASX: PDN) is the first ASX 200 uranium share with a price-sensitive update out today.

Paladin Energy shares are currently trading for $7.55 apiece, down 2.1%.

This comes after the company announced that it had received clearance to acquire Canadian-listed Fission Uranium Corp (TSE: FCU) under the Investment Canada Act (ICA).

The ICA Clearance represents the final regulatory clearance required to complete the acquisition through a court-approved plan of arrangement.

The deal remains subject to customary closing conditions, and management now expects it to be completed by early January. The ASX 200 uranium stock first announced the proposed acquisition on 24 June.

Under the agreement, Fission shareholders will receive 0.1076 Paladin shares for each Fission share held at the effective time of the arrangement. Following the closing of the arrangement, Paladin's shares are expected to be listed on the Toronto Stock Exchange, and Fission's shares will be delisted.

Commenting on the Canadian government's decision, Paladin CEO Ian Purdy said:

The combination of Paladin and Fission creates a world-class diverse uranium producer operating in multiple countries, with a high-quality portfolio of production, development and exploration assets.

The addition of the PLS project in the Athabasca Basin creates a leading Canadian development hub alongside our existing Michelin project, with exploration upside across all the Canadian properties.

Which brings us to…

Uranium project FID pushed back

The second ASX 200 uranium share with big news out today is Deep Yellow Limited (ASX: DYL).

Deep Yellow shares are changing hands for $1.08 apiece in morning trade, down 10.4%.

The Deep Yellow share price is under heavy pressure on Thursday after the company said it will defer its Final Investment Decision (FID) on the Tumas project in Namibia until early March.

Management said the FID is being pushed back due to delayed costs and quotes for equipment and construction, as well as further project optimisation.

While Deep Yellow said it is continuing to make significant progress and demonstrating the strong economic viability of Tumas, the final execution and plant construction commencement remains dependent on sufficient uranium price incentivisation.

In the meantime, early works on non-process infrastructure are continuing in a bid to avoid any potential project delays. The board said it doesn't expect this "small delay" to have a material impact on the project's objective of commencing production in late 2026.

Deep Yellow noted that it remains well-funded, holding $247 million at 30 September, to progress the project development.

Commenting on the FID deferral pressuring the ASX 200 uranium share today, Deep Yellow managing director John Borshoff said:

This delay is considered minor in the scheme of this project, and it is also important we make our final decisions based on the best, most up-to-date information and in the best interests of our shareholders.

As for the longer-term outlook for the uranium market, Borshoff added:

The outlook for nuclear remains extremely optimistic. Substantial uranium supply, potentially a doubling of annual supply by 2040, will be required and we believe that will be difficult to achieve giving us a definite competitive advantage in what we anticipate will be a more positive price environment.