New Cameco Bid Topping Rio Tinto Seen in Record Hathor Valuation

Bloomberg reported  the industry’s richest takeover offer may not be enough to let Rio Tinto Group (NYSE:RIO) win Hathor Exploration Ltd. (TSX:HAT).

As quoted in the market news:

Hathor, which owns a Canadian uranium deposit, climbed to C$5.06 last week after the world’s third-largest mining company raised its deal price to C$4.70 a share. While the 65 percent premium that Rio agreed to pay topped Cameco Corp. (CCO)’s hostile bid, arbitragers that pushed Hathor to an all-time high are now betting that Cameco will increase its offer for a second time, according to data compiled by Bloomberg.

Click here to read the full Bloomberg report.