Paladin Energy Gets Shareholder Nod to Acquire Canada's Fission Uranium; Shares Rise 4%

Paladin Energy (ASX:PDN) received approval from Fission Uranium's shareholders to acquire the Toronto-listed uranium company via a court-approved plan of arrangement, according to a Tuesday filing with the Australian bourse.

Paladin Energy said 68% of shareholders voted in favor of the proposed transaction, exceeding the required 66% threshold.

The transaction remains subject to customary closing conditions, including Investment Canada Act clearance and receipt of a final order from the Supreme Court of British Columbia.

The court hearing for the final order is set for Sept. 12, the filing stated.

Paladin shares rose past 4% in recent Tuesday trade.

Price (AUD): $8.74, Change: $+0.37 , Percent Change: +4.42%