2149 GMT - Paladin Energy's 29% share-price drop on Tuesday followed the scaling back of expectations for uranium production from the restarted Langer Heinrich mine in Namibia. But it may also reflect unease over its M&A ambitions. In a note, Citi says the sharp sell off of Paladin shares could complicate the miner's deal to acquire Canada's Fission Uranium for more than $800 million. "Fission shareholders could consider this as a material adverse event and look to walk away given Paladin's all scrip offer," analyst Samuel Schubert says. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
November 12, 2024 16:49 ET (21:49 GMT)
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