Paladin Energy's Fission takeover faces extended delay in Canada security review
Liens/iStock via Getty Images
Paladin Energy (OTCQX:PALAF) -5.3% in Wednesday's trading after Canada's federal government said it is extending a national security review of the company's acquisition of Fission Uranium (OTCQX:FCUUF), further delaying a deal that once was expected to close in September.
Paladin (OTCQX:PALAF) said it received a notice from Canada's industry ministry that the review period will be extended until December 30, while also warning that failure to obtain clearance would scuttle the acquisition.
Paladin's (OTCQX:PALAF) agreement to buy the Canadian company for C$1.14B in stock would create the third-largest publicly traded uranium producer, but the deal was delayed by opposition from Fission's (OTCQX:FCUUF) largest shareholder, China's CGN Mining Co.
Also, Prime Minister Trudeau's government has increased scrutiny on critical minerals deals involving foreign buyers.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Most Discussed
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10