Court greenlights Paladin-Fission merger, but deal remains uncertain
Canada’s Fission Uranium has secured approval from the Supreme Court of British Columbia for its acquisition by Australian miner Paladin Energy.
However, Paladin cautioned on Wednesday that the deal’s completion remaed uncertain.
The transaction is still pending clearance under the Investment Canada Act (ICA) - a critical step for its finalisation.
Earlier this month, Canada initiated a national security review of Paladin's proposed C$1.14-billion purchase of Fission.
“In light of the national security review of the arrangement, there can be no certainty that Paladin will be able to obtain ICA clearance in a timely manner or at all. Failure to obtain ICA clearance would prevent the arrangement from being successfully completed,” the company said.
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