Paladin Energy’s (ASX: PDN) proposed takeover of Canadian explorer Fission Uranium (TSX: FCU) has hit a roadblock after receiving a notice from the Canadian government informing the company the deal is now the subject of a national security review.
The Australian miner entered in June into an agreement with Fission Uranium to acquire it for C$1.14 billion ($846m), as strong prices for the fuel used in nuclear reactors has lit fire under market consolidations and deals.
Paladin, which would have become the third-largest publicly traded uranium producer with the planned acquisition, said it was considering the notice sent by Canada’s minister of innovation, science and industry, François-Philippe Champagne.
For the rest of this article: https://www.mining.com/canada-reviewing-paladins-fission-takeover-on-national-security-grounds/