Aug 26, 2011
Cameco (NYSE:CCJ) announced that it intends to make an offer to acquire all of the outstanding shares of Hathor Exploration for cash consideration of $3.75 per share in a transaction which values the fully diluted share capital of Hathor at approximately $520 million.
Cameco delivered a written proposal to Hathor following a close of market on Friday, August 19 outlining its interest in acquiring the company for cash in a transaction vaulued ay 3.75 per share.
Cameco made today's announcement after discussions with Hathor regarding a potential board-supported transaction failed to result in an agreement.
Cameco (NYSE:CCJ) has a potential upside of 65.4% based on a current price of $22.3 and an average consensus analyst price target of $36.88.
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