Kalahari close to £600m takeover by China Guangdong Nuclear Power Corp
By Ben Harrington 11:24PM GMT 07 Dec 2011
Kalahari Minerals was in focus amid talk China Guangdong Nuclear Power Corp is close to finalising its £610m takeover of the uranium mining company.
The two have been in talks for several months about a deal. Discussions have progressed well in recent weeks, with
Aim-listed Kalahari saying in November it was in negotiations about an offer valuing the mining group at 243p a share.
However, Kalahari also warned last month that there can "be no certainty that an offer will be made for the company".
Traders said a formal offer for Kalahari – whose key asset is a 42.74pc interest in Extract Resources Limited, owner of the world-class Husab Uranium Project in Namibia – was due to be unveiled as early as this morning.
Kalahari, whose shares have been rising recent weeks, perked up 2½ to 235p.
EXT Price at posting:
$8.09 Sentiment: Hold Disclosure: Held
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