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http://www.telegraph.co.uk/finance/markets/marketreport/8941727/Kalahari-close-to-600m-takeover-by-China-Guangdong-Nuclear-Power-Corp.html

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.