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Uranium One shareholders OK company takeover by its largest shareholder

By: The Canadian Press

Thursday, Mar. 7, 2013 at 12:40 PM | Comments: 0

The corporate logo of Uranium One Inc. (TSX:UUU), one of the world's largest publicly traded uranium producers, is shown. THE CANADIAN PRESS/HO

TORONTO - Shareholders and optionholders of Uranium One Inc. (TSX:UUU) voted Thursday to approve a deal that will see the company's largest shareholder take the company private.

The company said it expects to close the deal, which still requires court and regulatory approval, in the second quarter of this year.

Uranium One said 95.7 per cent of the votes cast by shareholders and 95.7 per cent of the votes cast by shareholders and optionholders voting together as one class were in favour of the plan.

ARMZ, which owns a 51.4 per cent stake in Uranium One, has agreed to pay $2.86 cash per share for the stock that it doesn't already own.

The offer values Uranium One at about $2.8 billion.

Uranium One owns assets in Kazakhstan, the United States, Australia and is an operator of, and a minority stakeholder in, the Mkuju River Project in Tanzania.

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