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    market news

    Rio Tinto Seen Stoking Bid War for Hathor

    Investing News Network
    Nov. 15, 2011 02:44PM PST
    Energy Investing

    Reuters reported Rio Tinto (NYSE:RIO) is unlikely to walk away from a bidding war for uranium developer Hathor Exploration (TSX:HAT).

    Reuters reported Rio Tinto (NYSE:RIO) is unlikely to walk away from a bidding war for uranium developer Hathor Exploration (TSX:HAT).

    As quoted in the market news:

    Cameco, Canada’s largest uranium miner, raised its offer for Hathor by 20 percent to C$4.50 a share, topping a friendly bid from Rio Tinto at C$4.15.

    Given that Rio Tinto had been in talks with Hathor since early 2010, investors expect Rio Tinto is eager to take over the company and would have a bit more up its sleeve to top Cameco, especially since the target is not large.

    Click here to read the full Reuters report.

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