Toro Energy Receives $75m Takeover Bid from Canadian Uranium Miner IsoEnergy
Canadian company IsoEnergy is looking to strengthen its top-tier uranium portfolio in a rising market with a $75 million bid for Australia’s Toro Energy.
The proposed takeover will add Toro’s high-quality, scoping-stage project — comprising the Centipede-Millipede, Lake Way and Lake Maitland deposits — to IsoEnergy’s asset line-up, which includes past-producing US mines and the ultra-high-grade Hurricane deposit in Canada’s Athabasca Basin.
- IsoEnergy currently holds 6 million Toro shares (or 4% of the company).
- The bid is for Australia’s Toro Energy (ASX: TOE) and its flagship Wiluna uranium project in Western Australia.
No comment from the company.
Author’s summary: IsoEnergy bids $75m for Toro Energy.