Mining giant Rio Tinto plc (NYSE: RIO) will apparently win the bidding war it’s been waging with Cameco Corp. (NYSE: CCJ) over Canadian uranium miner Hathor Exploration Ltd. (OTC: HTHXF). Cameco has announced that it will not increase its price and will let its offer of CDN$4.50/share expire tomorrow.
Rio’s winning bid of CDN$4.70 values Hathor at CDN$654 million.