Australia's Paladin gets security review notice from Canada on Fission Uranium deal

Reuters10-02

Oct 2 (Reuters) - Australia's Paladin Energy said it has received a notice from a Canadian ministry ordering a national security review of its acquisition of Canadian uranium explorer Fission Uranium Corp for C$1.14 billion ($845.51 million).

In June, the Australian uranium producer had announced it had entered an agreement to acquire Fission Uranium for an implied equity value of C$1.14 billion, following which shares of the company would be listed on the Toronto Stock Exchange.

Paladin is awaiting a final court order and clearance under the Investment Canada Act (ICA) to move ahead with the proposed acquisition.

The court decision relates to the legal proceedings brought forward by CGN Mining Company, which owns 11.26% stake in Fission, in relation to opposing the approval for the agreement.

"Accordingly, consideration of the arrangement (propsosed deal) under the ICA has been extended and remains ongoing," the company said in a statement on Wednesday.

Paladin said it is considering the Canadian Minister of Innovation, Science and Industry's notice, exploring its available options and evaluating the prospects of obtaining ICA clearance in respect of the deal.

($1 = 1.3483 Canadian dollars)

(Reporting by Shivangi Lahiri in Bengaluru; Editing by Rashmi Aich)

((Shivangi.Lahiri@thomsonreuters.com;))

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.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2472557774?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-10-02 09:59","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2472557774","market":"sh","top_or_hot":-1,"title":"Australia's Paladin gets security review notice from Canada on Fission Uranium deal","media":"Reuters","content":"<html><body><p>Oct 2 (Reuters) - Australia's Paladin Energy    said it has received a notice from a Canadian ministry ordering a national security review of its acquisition of Canadian uranium explorer Fission Uranium Corp    for C$1.14 billion ($845.51 million).</p><p>   In June, the Australian uranium producer had announced it had entered an agreement to acquire Fission Uranium for an implied equity value of C$1.14 billion, following which shares of the company would be listed on the Toronto Stock Exchange.</p><p>   Paladin is awaiting a final court order and clearance under the Investment Canada Act (ICA) to move ahead with the proposed acquisition.</p><p>   The court decision relates to the legal proceedings brought forward by CGN Mining Company, which owns 11.26% stake in Fission, in relation to opposing the approval for the agreement.</p><p>   \"Accordingly, consideration of the arrangement (propsosed deal) under the ICA has been extended and remains ongoing,\" the company said in a statement on Wednesday.</p><p>   Paladin said it is considering the Canadian Minister of Innovation, Science and Industry's notice, exploring its available options and evaluating the prospects of obtaining ICA clearance in respect of the deal.</p><p>($1 = 1.3483 Canadian dollars)</p><p> (Reporting by Shivangi Lahiri in Bengaluru; Editing by Rashmi Aich)</p><p>((Shivangi.Lahiri@thomsonreuters.com;))</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Australia's Paladin gets security review notice from Canada on Fission Uranium deal</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAustralia's Paladin gets security review notice from Canada on Fission Uranium deal\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-02 09:59 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Oct 2 (Reuters) - Australia's Paladin Energy    said it has received a notice from a Canadian ministry ordering a national security review of its acquisition of Canadian uranium explorer Fission ...</p>\n\n<a href=\"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK1524","symbol_name":"核电","start_time":0,"source_url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","article_id":"2472557774","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2472557774","pubTimestamp":1727834375,"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"Oct 2  - Australia's Paladin Energy    said it has received a notice from a Canadian ministry ordering a national security review of its acquisition of Canadian uranium explorer Fission Uranium Corp    for C$1.14 billion .   In June, the Australian uranium producer had announced it had entered an agreement to acquire Fission Uranium for an implied equity value of C$1.14 billion, following which shares of the company would be listed on the Toronto Stock Exchange.   Paladin is awaiting a final court order and clearance under the Investment Canada Act  to move ahead with the proposed acquisition.   The court decision relates to the legal proceedings brought forward by CGN Mining Company, which owns 11.26% stake in Fission, in relation to opposing the approval for the agreement.   \"Accordingly, consideration of the arrangement  under the ICA has been extended and remains ongoing,\" the company said in a statement on Wednesday.   Paladin said it is considering the Canadian Minister of Innova","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK1524":"核电","BK7083":"煤与消费用燃料","BK1594":"碳中和概念股","BK1592":"有色金属","BK7509":"中概股","BK1178":"煤与消费用燃料","01164":"中广核矿业","PDN.AU":"PALADIN ENERGY LTD"},"translate_title":"澳大利亚帕拉丁公司收到加拿大关于裂变铀交易的安全审查通知","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"01164":0.9,"PDN.AU":0.9},"content_text":"Oct 2 (Reuters) - Australia's Paladin Energy    said it has received a notice from a Canadian ministry ordering a national security review of its acquisition of Canadian uranium explorer Fission Uranium Corp    for C$1.14 billion ($845.51 million).   In June, the Australian uranium producer had announced it had entered an agreement to acquire Fission Uranium for an implied equity value of C$1.14 billion, following which shares of the company would be listed on the Toronto Stock Exchange.   Paladin is awaiting a final court order and clearance under the Investment Canada Act (ICA) to move ahead with the proposed acquisition.   The court decision relates to the legal proceedings brought forward by CGN Mining Company, which owns 11.26% stake in Fission, in relation to opposing the approval for the agreement.   \"Accordingly, consideration of the arrangement (propsosed deal) under the ICA has been extended and remains ongoing,\" the company said in a statement on Wednesday.   Paladin said it is considering the Canadian Minister of Innovation, Science and Industry's notice, exploring its available options and evaluating the prospects of obtaining ICA clearance in respect of the deal.($1 = 1.3483 Canadian dollars) (Reporting by Shivangi Lahiri in Bengaluru; Editing by Rashmi Aich)((Shivangi.Lahiri@thomsonreuters.com;))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2472557774"}