Uranium Energy enters two of Canada's most prospective uranium districts with UEX acquisition
US-focused Uranium Energy Corp (UEC) on Monday announced the acquisition of UEX, providing the company entry into two of Canada’s most prospective uranium districts in Saskatchewan and Nunavut.
Under the terms of the agreement, each holder of UEX shares would receive 0.0831 of one UEC share, implying a consideration of about C$0.43 a share and a premium of about 50% based on the closing price of UEX’s shares on the TSX on Friday.
President and CEO Amir Adnani said the transaction had the same characteristics as the December acquisition of Uranium One America (U1A), which at the time marked the biggest merger-and-acquisition (M&A) transaction in about a decade.