Rio Tinto claims victory in Hathor bid

1st Dec 2011 08:16

Rio Tinto, the Anglo-Australian mining giant, has claimed victory in its agreed bid for Canadian firm Hathor.So far, shareholders representing just over 70% of the Canadian uranium explorer's issued share capital have accepted Rio's offer, which values Hathor at $654m.The rival offer for the company from Canadian uranium miner Cameco valued Hathor at C$625m.Rio is now extending the deadline for shareholders to sell their stock to the 12th of December.Shares in Rio Tinto have climbed 0.6% in early trading. So far this year the company has lost 25% of its value.BS/JH