UEX receives higher buyout bid from Uranium Energy; shares slump

Denison Mines

15/08/2022 18:17

** Shares of Canada-based uranium and cobalt exploration
company UEX Corp  UEX.TO  slide 4% to 48 Canadian cents amid a
broader sell-off in uranium and other stocks  .N 
    ** U.S.-based uranium miner Uranium Energy Corp  UEC.A  says
it has raised all-stock offer to buy UEX to ~C$0.497 ($0.3855)
per UEX share, second time it has raised its bid  urn:newsml:reuters.com:*:nCNWPmdl5a
    ** The termination fee owed by UEX to UEC has also been
raised to $9 million, UEC says
    ** UEC first announced deal to buy UEX on June 13; UEX last
month received a superior proposal from Denison Mines Corp
 DML.TO   DNN.N   urn:newsml:reuters.com:*:nL4N2Y02O9  urn:newsml:reuters.com:*:nCNWyW94ya
    ** UEX shareholders will now receive 0.090 UEC share per UEX
share, compared to 0.0831 originally offered in June proposal

($1 = 1.2894 Canadian dollars)

 (Reporting by Ruhi Soni in Bengaluru)
 ((Ruhi.Soni@thomsonreuters.com; Twitter: https://twitter.com/ruhithere))