Uranium miner Paladin Energy has proposed a CAD$1.14 billion ($1.25 billion) takeover of Toronto-listed Fission Uranium.
The move aims to bring Fission's Canadian mine into production by 2029 to meet rising global uranium demand.
Paladin views Fission's deposit as advantageous due to its proximity to the US market. The merger would create a company valued at US$3.5 billion ($5.26 billion), with dual listings in Australia and Canada.
The takeover offer values Fission shares at CAD$1.30 each ($1.40). If approved, Paladin shareholders will own 76% of the merged entity, with Fission shareholders holding the remaining 24%.
The deal, expected to be completed by September, requires 66% approval from Fission's voting shareholders.