media speculation, page-12

exactly, PDN is overvalued .... from that article

Paladin Energy Ltd., .... among companies that Cameco considers attractive, he said.

...."From a production perspective, very interesting, but we’ve always been challenged by the valuation.”

High End

Paladin’s shares trade at about 47 times estimated current- year earnings, while Cameco shares trade at about 21 times estimated earnings. The company’s market value of A$3.08 billion ($2.88 billion) represents the high end of a range of deals Cameco would consider, Grandey said.

.....

George Topping, an analyst at Blackmont Capital Inc. in Toronto, said he would be surprised if Cameco bought a company the size of Paladin.

“It would just be so out of character with Cameco’s conservative management style,” Topping said today in an interview. “As for actually acquiring Paladin, Cameco has no operating experience in Africa. It would be quite a step.”