A Chinese state-owned power company has set its sights on two uranium companies, making a £632m offer for London-listed Kalahari Minerals that if completed would trigger an offer for Australia-listed Extract Resources.
China Guangdong Nuclear Power Corp has bid 243.55p for Kalahari, an investor in a Namibian uranium project, representing a 16 per cent premium to the Aim-quoted group’s share price over the past six months.
Kalahari’s board recommended the latest offer from the Chinese group, which is trying to secure supplies of nuclear fuel as the country embarks on the world’s biggest reactor-building programme.
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