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Rio Tinto Wins Bidding War for Uranium Miner (RIO, CCJ, HTHXF)

Mining giant Rio Tinto plc (NYSE: RIO) will apparently win the bidding war it’s been waging with Cameco Corp. (NYSE: CCJ) over Canadian uranium miner Hathor Exploration Ltd. (OTC: HTHXF). Cameco has announced that it will not increase its price…

By Paul Ausick
Published November 28, 2011, 10:23am ET · 1 min read

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Mining giant Rio Tinto plc (NYSE: RIO) will apparently win the bidding war it’s been waging with Cameco Corp. (NYSE: CCJ) over Canadian uranium miner Hathor Exploration Ltd. (OTC: HTHXF). Cameco has announced that it will not increase its price and will let its offer of CDN$4.50/share expire tomorrow.

Rio’s winning bid of CDN$4.70 values Hathor at CDN$654 million.

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Paul Ausick

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

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