Paladin Energy buying Fission Uranium in stock deal valued at $1.1 billion

KELOWNA, B.C. — Fission Uranium Corp. has signed a deal to be acquired by Australian company Paladin Energy Ltd. in an all-stock agreement valued at about $1.1 billion.

Under the proposal, Fission shareholders will receive 0.1076 shares of Paladin for each Fission share held. The offer implies a value of $1.30 per Fission share.

Fission shares closed at $1.03 on the Toronto Stock Exchange on Friday.

Existing Paladin shareholders will own about 76 of the combined company, while existing Fission shareholders will own 24 per cent.