Mining giant Rio Tinto has received clearance for its offer to purchase uranium developer Hathor Exploration for C$4.70 a share, in a bid which values Hathor at around C$654m (£402m) on a fully-diluted basis.
The company said that the Canadian Competition Bureau's Commissioner of Competition issued a "no action letter" and Hathor shareholders now have until 17:00 on 30 November to accept and tender their common shares.
Hathor's board of directors are said to unanimously recommend the offer.
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Rio raised its offer price just five days ago after Cameco Corporation trumped its initial offer earlier this month.
BC
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