Paladin Energy Ltd (C-PDN) - In the News
NP says rumour has Cameco eyeing Paladin
2009-12-10 09:41 ET - In the News
Shares issued 715,584,427
Will Cameco buy PDN?
PDN Close 2009-12-09 C$ 3.80
From In the News (C-CCO) Cameco Corp
The National Post reports in its Thursday, Dec. 10, edition that Cameco's sale of its 48.5-per-cent interest in Centerra Gold has the Street speculating about what the uranium giant's next move will be. The Post's Jonathan Ratner writes that analysts suggest an acquisition is the most likely course of action. The Centerra sale means Cameco will likely look to buy a uranium producer as it seeks to strengthen its production profile, according to Rob Chang at Octagon Capital. At $2.8-billion in market market capitalization, Paladin Energy has long been a rumoured candidate. The analyst told clients that the Australian-based uranium company, whose shares trade on the Toronto Stock Exchange, is one of the better-run producers, offers arguably the best production growth profile and has no major strategic shareholders. Cameco wants to double its annual uranium output from existing operations by 2018. Cameco chief executive Jerry Grandey, who has highlighted Paladin as an attractive takeover candidate, in November suggested that Cameco will consider acquisitions and joint ventures with customers in Asia.
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