Rio Tinto Ups the Ante in Bid for Canada’s Hathor

Reuters Canada reported Rio Tinto (NYSE:RIO,ASX:RIO) raised its friendly takeover offer for Hathor Exploration (TSX:HAT) to about C$654 million.

As quoted in the market news:

The C$4.70 a share offer leapfrogged a revised hostile bid for Hathor from Canada’s largest uranium producer, Cameco Corp (TSX:CCO). And it may well prolong an already protracted battle to buy the Canadian uranium explorer as Rio and Cameco bet global demand for uranium will grow despite the pressure the nuclear power sector is under after the Fukushima disaster in Japan.

Click here to read the full Reuters Canada report.