Cameco Corp raised its offer for Hathor Exploration by 20 percent on Monday, challenging a friendly takeover bid by Rio Tinto for the small Canadian uranium miner.The C$4.50 per share offer, which values Hathor at C$625 million ($614 million), sent the target company's stock soaring 9 percent to C$4.87 on the Toronto Stock Exchange, as investors bet on a bidding war over the uranium junior.The latest bid by Cameco, Canada's largest uranium miner, tops the friendly C$4.15-a-share offer from Anglo-Australian Rio Tinto, and its own previous bid of C$3.75.Rio Tinto had no immediate comment.
Cameco Corporation (Cameco) is a uranium producer and a provider of processing services required to produce fuel for nuclear power plants. Shares of CCJ traded higher by 0.1% or $0.02/share to $19.82. In the past year, the shares have traded as low as $17.21 and as high as $44.81. On average, 2441880 shares of CCJ exchange hands on a given day and today's volume is recorded at 2314767.
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