Australia-listed Paladin Energy [ASX:PDN] and Canada’s Fission Uranium Corp TSX:FCU have entered into a definitive arrangement agreement where Paladin will acquire 100% of the issued and outstanding shares of Fission in a court approved plan of arrangement under the Canada Business Corporation Act.
Fission shareholders will receive 0.1076 fully paid shares in Paladin for each Fission share held at the closing of the transaction. The offer consideration represents an implied value of C$1.30 per Fission share, and an implied equity value of C$1,140 million for Fission.
It is a 25.8% premium to the closing price of the Fission Uranium on the TSX on 21 June 2024 and a 30 premium to the 20-day Volume Weighted Average Price of Fission shares at that time.
Paladin Energy to list on TSX
Upon completion of the transaction, Fission shareholders will own 24.0% of Paladin with a market cap of approx US$3.5 billion. Paladin has applied to list…
