Paladin moved in June to buy the Canadian miner for C$1.14 billion ($845 million), contingent on at least two-thirds of Fission shareholders voting in favour of the transaction by Aug. 26.
The bid came amid the global shift towards nuclear energy that took off a year ago, when a supply crisis unfolded and utilities sought to secure long-term contracts, driving the spot price to a 16-year high in January.
The company, which would have become the third-largest publicly traded uranium producer with the planned acquisition, failed to reach that threshold as nearly half of eligible shareholders did not submit their proxies by the deadline. A special general meeting was postponed to Sept. 9, in which 67.9% of Fission’s shareholders voted in favour of the deal.
Paladin Energy’s intended acquisition of Fission Uranium comes amid the global shift towards nuclear energy that took off a year ago, which triggered a supply crisis and…
