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Cameco bid for uranium company Hathor Exploration will be allowed to lapse (Cameco-Hathor)
Uranium miner Cameco Corp. is giving up its hostile $625-million pursuit of Hathor Exploration Ltd., allowing a formidable competitor _ global mining giant Rio Tinto PLC _ an entry into Cameco`s home turf of northern Saskatchewan.After careful consideration we cannot justify increasing the price beyond our current offer and accordingly, we will let our offer lapse, chief executive Tim Gitzel said in a statement Monday.Hathor (TSX:HAT), owner of the coveted Roughrider uranium deposit in northern Saskatchewan, is embracing a rival $654-million offer from Rio Tinto, which had much less to...
Published By: Oilweek Magazine - Today
