First Uranium Shareholders Say AngloGold Deal Too Cheap

Bloomberg reported a group of shareholders in First Uranium (TSX:FIU) have complained the companies planned deal to sell assets to AngloGold (NYSE:AU) for $405 million is too cheap.

As quoted in the market news:

The group sent a letter to the boards of First Uranium, AngloGold and Gold One explaining its objections, Nicholas Betsky, head of equities atRussia’s Olma Investment Firm in Moscow, and Mikhail Pak, a spokesman for Stratton Enterprises Inc. in Moscow, said yesterday in separate interviews.

The investor group comprises Olma, Stratton, Sprott Asset Management Inc. and Patto Corporate Services Ltd. and collectively holds more than 41 million shares, or 17 percent, of Toronto-based First Uranium. It may vote against both deals, Betsky said.

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