Paladin Energy To Acquire Fission Uranium

By Author: Ben Gross
Total Articles: 459
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Paladin Energy Limited and Fission Uranium Corp. are excited to announce that they have reached a definitive agreement, where Paladin will acquire all of the outstanding shares of Fission. This arrangement will be carried out through a court-approved plan of arrangement under the Canada Business Corporation Act.

Here are the key highlights of the transaction:

1. Fission shareholders will receive 0.1076 fully paid shares of Paladin for each Fission share they hold at the closing of the transaction.

2. The offer consideration implies a value of C$1.30 per Fission Share, with an equity value of C$1,140 million. This represents a 25.8% premium to the closing price of Fission Shares on the TSX on June 21, 2024, and a 30.0% premium to the 20-day Volume Weighted Average Price of Fission Shares on the same date.

3. After the completion of the transaction, Fission shareholders will own 24.0% of Paladin, which will have a pro-forma market capitalization of approximately US$3.5 billion.

4. Paladin has applied for the listing of Paladin Shares on the Toronto Stock Exchange, and upon completion of the transaction, ...
... Fission shareholders will receive TSX-listed Paladin Shares.

5. Fission's Board of Directors, along with the unanimous recommendation from its special committee of independent directors, advises Fission shareholders to vote in favor of the transaction. This recommendation comes after careful consideration and consultation with financial and legal advisors.

Cantor Fitzgerald has provided an opinion to the Special Committee, stating that the Offer Consideration is fair, from a financial point of view, to the Fission shareholders. SCP Resource Finance has also provided an opinion to the Board of Directors of Fission.

More Information : https://www.techdogs.com/tech-news/pr-newswire/paladin-energy-to-acquire-fission-uranium-creating-a-clean-energy-leader