Rio Tinto delays offer deadline again
Mining giant Rio Tinto has extended the time shareholders in Canadian uranium firm Hathor have to accept its $654m bid for the company.
Mining giant Rio Tinto has extended the time shareholders in Canadian uranium firm Hathor have to accept its $654m bid for the company.
Rio said that so far over 84% of shareholders had accepted the C$4.70 per share offer and it was delaying the deadline until 22 December 2011.
"The offer has been extended to allow the remaining Hathor shareholders sufficient time to tender their common shares to Rio Tinto's offer," Rio said.
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The approach is a friendly one, with Hathor's board of directors having unanimously recommended it to shareholders.
The deadline had previously been extended until 12 December from the start of the month.
Hathor had been the subject of a hostile takeover bid, with Cameco Corp offering C$520m for the Saskatchewan-focused explorer.
Rio Tinto already employs over 13,400 people across its operations in Canada, which include mining and manufacturing interests in alumina, aluminium, iron ore, diamonds and titanium dioxide.
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