China Guangdong Nuclear Power (CGNPC) withdrew its possible bid for Kalahari Minerals (KAH.L) on Tuesday, scuppered by the Japanese nuclear crisis and a refusal by UK regulators to allow a lower offer. State-owned CGNPC made an informal move on Kalahari in March -- days before the Japanese earthquake -- lured by access to one of the world's biggest uranium deposits at a time when major powers are scrambling for alternative sources of power. But, in the light of uncertainties following the Fukushima nuclear disaster, both sides agreed last week to lower the initial 290 pence per share offer to 270 pence . Britain's Takeover Panel, however, said it would not allow CGNPC to turn a higher, informal offer, into a lower, formal bid. The panel's hearings committee upheld that ruling on Tuesday.
Source
